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.
Is pensions tax relief set for the chop?
Government has yet to officially respond to the ‘Strengthening the incentive to save’ consultation, which included proposals to tax pensions like Isas. The autumn statement may provide an opportunity for treasury to update us on its current thinking on pension tax relief.
The annual allowance (currently £40,000, $53,331, €47,355) and lifetime allowance (£1m) have been hacked back relentlessly since 2010. Further reductions are possible if the treasury needs to raise money quickly post-Brexit vote.
