'ISA pensions' could reduce the deficit by £10bn a year

In a briefing note published by the Centre for Policy Studies on 3 July, Johnson urged the government to switch from the current pensions tax system, where contributions and investment income are exempt from tax and only the benefits are taxed (EET), to a new system where contributions are taxable but investment income and benefits are exempt (TEE). This comes as Chancellor Geroge Osborne used his Summer Budget to launch a consultation to look at whether there is a case for reforming pensions tax relief. Johnson said that replacing current support for occupational pensions with a Work...