DUP-Conservative deal on pensions - 'could open door to cuts in tax relief'
26 June 2017
Commenting on the agreement reached between the Conservatives and the DUP, Steve Webb, Director of Policy at Royal London said:
‘Retaining the triple lock is likely to be relatively cheap, now that inflation has risen above the 2.5% floor. Means-testing winter fuel payments was always going to be complex and controversial, so many Conservative MPs will be pleased to see this policy ditched. However, the DUP decision to back Conservative Finance Bills probably means a greater likelihood of getting cuts to pension tax relief through Parliament’.
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For further information please contact:
Steve Webb, Director of Policy
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £104.5 billion. Group businesses provide around 9.0 million policies and employ 3,341 people. (Figures quoted are as at 31 March 2017)