ConservativeHome writer and former MP Paul Goodman cited Michael Johnson’s work on saving in an article for the Conservative activist website, Thursday 21 January 2016.
“None the less, as Michael Johnson put it last year on this site, “tax relief is first and foremost a core component of personal tax planning…rather than a saving incentive”. In other words, the breaks are concentrated on people who already save rather than those that don’t. Johnson’s work for the Centre for Policy Studies has been leading the way. Mark Hoban, the former Financial Secretary to the Treasury, has also weighed in, writing that the reliefs “do not help those on lower incomes whose pension contributions are a bigger sacrifice”. Their ideas differ in some respects, but both make the case for a single flat rate of relief at 33 per cent or thereabouts. Such a simplification would arguably complement the new flat rate state pension and the sweeping away of the annuity requirement.”
To read the full article, visit the Conservative Home website.
Date Added: Thursday 21st January 2016
