Budget aftermath: Investec's Max King on what you may have missed

Amid the flurry of Summer Budget announcements, easily dismissed was the consultation document suggesting the replacement of tax relief on pension contributions by an ISA-like system of tax free draw-downs in retirement. It is easy to assume that this idea will be killed stone dead by the consultation process but this could be complacent. Such a change would yield significantly more tax to the Chancellor in the short term with any long term cost a problem for Chancellors far into the future. Perhaps Mr Osborne is using the consultation process to spread the blame for a proposal he ...