Deputy PM Angela Rayner urges chancellor to reintroduce LTA

In the memo, seen by The Daily Telegraph, Rayner wrote to chancellor Rachel Reeves, ahead of this year's Spring Budget, calling for eight tax increases, including the reintroduction of the LTA and changes to dividend taxes and is said to have estimated that the proposed changes could raise between £3bn to £4bn a year. The LTA, the limit on how much money could be saved into a pension before incurring tax charges, was abolished by then chancellor Jeremy Hunt in his 2023 Spring Budget speech and the abolishment was certified after the Finance Bill 2024 received Royal Assent last February. ...