Labour and Tory tax relief pledges 'significantly complicate' system - IFS

Research, published today by the Institute for Fiscal Studies (IFS) said there was little sense of direction on tax and benefit plans outlined in the Conservative, Labour and Liberal Democrat manifestos. It said the research found "little evidence of any coherent strategy, and numerous proposals that would complicate the tax system". The report, funded by the Nuffield Foundation, said both the Conservatives and the Labour Party want to raise more money from increasing income tax on pension contributions: It said both sets of plans would dramatically reduce the value of pension tax ...