Five questions the UK’s autumn statement needs to answer
By Kirsten Hastings, 9 Sep 16
With a date of 23 November now set for chancellor Philip Hammond’s first autumn statement, AJ Bell senior analyst Tom Selby has outlined five questions Hammond needs to answer when he takes to the despatch box.
Selby said: “[Former chancellor] George Osborne temporarily shelved a dramatic overhaul of pension tax relief at the last budget for fear of rocking the boat ahead of the EU referendum. His plan didn’t quite work out, but proposals for radical reform – and potentially the creation of a Pension Isa – are not dead in the water.
“The creation of a new Lifetime Isa could well be the first step towards either a Pension Isa or the introduction of a flat rate of pension tax relief. However, given the ongoing uncertainty surrounding the details of Brexit, chancellor Hammond may decide now is not the time to stir up that particular hornets’ nest.
“One thing is clear, there are a number of outstanding questions hanging over UK pensions that need answering.”
