RSA report reignites debate over flat-rate tax relief reform

In a report, Venturing to Retire, published in partnership with e-commerce marketplace Etsy - the think tank said 40% of government spending on pension relief goes to the top 10% of those claiming relief. It said this is "deeply disproportionate" - and means that, while pensions tax relief costs HM Treasury £30.5m a year, £11.8bn is spent on people earning more than £70,000. The RSA called for a 30% flat rate to boost the pension pots and individual saving incentives for basic rate taxpayers - a policy change that has long been championed for by former pensions minister Steve Webb. ...