'The tax squeeze is about to get worse' (The Times)(£)

Mark Hookham and Marie Woolf, The Sunday Times, reflected on the weeks taxation arguments for Budget 2012, quoting Tim Knox, CPS Director, in referrence to Michael Johnsons Pensions: bring back the 10p rebate released on Friday.

“There is also speculation that Osborne may decide to tax the lump sums that can be taken out of pensions on retirement.

Tim Knox, director of the right-wing Centre for Policy Studies, which produced a report on pensions on Friday, said he “reluctantly” believed that generous tax breaks on the pension contributions of higher earners “may be a luxury we can no longer afford”.”

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Date Added: Sunday 11th March 2012