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Chancellor's Strategy Is Rubbish

 
Andrew Flint takes a sideways look at the month's tax news
 
Tricky things pensions aren't they. It's bad enough deciding on how to pay out: do you have a means-tested system which is complicated and provides a disincentive to save; or a universal payment which is simple but expensive and unfair?
 
The present Government looks like opting for the means-tested route which makes the disincentive to save especially relevant because it impinges on the lower end of the income scale which is precisely the area in which the Government wishes to encourage saving for old age.
 
So how do you encourage pension savings? Compulsion is deeply unfair as it would impose a choice that in many instances would be unwise. For...

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