AJ Bell lays the odds for UK post-Brexit reforms
By Kirsten Hastings, 1 Jul 16
With UK chancellor George Osborne having abandoned his plans to generate a budget surplus by 2020 following Brexit, AJ Bell senior analyst Tom Selby gives his odds on whether HM Treasury will adopt any of the six radical money saving options available to them and if the Pensions Bill will be delayed.
“This is a tricky one for the Treasury. On the one hand, reforms to allow people to trade in their annuities are set to be a big money spinner for the Exchequer’s coffers, so delaying or abandoning the changes will be costly.
“However, it remains uncertain how the market will shape up or who will come forward as annuity buyers, while clarity has yet to be delivered on how advice will operate.
“With civil servants set to be sidelined by Brexit negotiations, the future of these reforms looks wobbly at best.”
