Reeves to consider £2bn raid on tax-free pension lump sum

Speculation has intensified over summer following a bruising forecast from the National Institute of Economic and Social Research (NIESR) that Reeves could face a deficit in the public finances as great as £51bn – a deficit that is likely only be plugged by significant rises in tax or cuts in public spending. The Telegraph has reported Reeves is considering cutting the pension lump sum that can be claimed tax-free as part of revenue-raising measures to raise as much as £2bn a year The current limit maximum for tax-free cash is £268,275 but it is understood civil servants may be lookin...