Wednesday evening news briefing: Reeves urged to launch tax raid on lump sum pensions
Good evening. Rachel Reeves is under pressure to mount a multi-billion pound raid on the pension pots of wealthy savers.
Elsewhere, a confidential report has found that the link between Lucy Letby and the deaths of babies at the Countess of Chester hospital was “quite subjective”.
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Reeves urged to launch tax raid on lump sum pensions
The Institute for Fiscal Studies has urged the Chancellor to cap the amount that can be taken tax-free from pension pots. Currently, people can take up to 25pc of any pension as a tax-free lump sum when they reach 55, up to a maximum of £286,275. The IFS said that reducing the amount to £100,000 would affect about one in five retirees and raise £2bn in the long run.
However, there is a growing fear among economists that the Government’s proposed tax hikes, alongside its continued gloomy narrative, will kill off the momentum needed for economic growth. These charts reveal the obstacles facing Ms Reeves.
Letby link to baby deaths ‘subjective’, confidential report found
The Thirlwall Inquiry heard today that the Royal College of Paediatrics and Child Health wrote a report into the deaths at the hospital that was never published. In the report, consultants had identified that Lucy Letby was on shift for all deaths and had become “convinced by the link” – see today’s key moments.