" The pension pots of the wealthy and bankers’ bonuses would be raided to fund a Labour government’s welfare reform, the party will confirm on Monday.
People earning more than £150,000 would get only 20 per cent tax relief on pension contributions, instead of the 45 per cent they receive now.
Ed Balls, the shadow chancellor, will set out plans to pay for its Compulsory Jobs Guarantee, the centrepiece of the party’s welfare plans.
Every young person jobless for more than 12 months will be given a “starter job” which they will have to take or lose benefits. “A life on benefits will simply not be an option,” Mr Balls will say. The promise would require the Government to fund some jobs for claimants. "
Source: Labour in tax raid on pensions to help jobless - Telegraph
What a numpty - the whole point of "giving" taf relief to those people is to trick them into putting money into this giant ponzi scheme known as pensions. The treasury was not losing anything with this "tax relief" because they were getting much needed money right now with future opportunity to raid those pension funds.
1/10
Try harder Balls.
Comment