Pension tax reforms could boost middle earners’ pension pots by 20 per cent

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Welfare & Tax Reform

  Substantial losses for high earners likely to be behind Chancellor’s pre-Budget postponement Radical pension reforms could significantly boost the pension savings of the majority of earners, but at the cost of substantial losses to high earners and major disruption to the industry. These costs are likely to have led to the Chancellor backing off … Continued

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Weak wage growth poses questions over stability of recovery

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Shared Growth

The first full year when average wages are expected to recover to pre-recession levels was pushed back from 2017 to 2018 today by the government’s official economic forecasts, despite strong and very welcome growth in employment. As a result, the Resolution Foundation calculates that the median wage – the pay of a typical worker – … Continued

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New childcare support is welcome but it’s skewed towards the affluent and misses out the poorest working families

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Welfare & Tax Reform

Overall there are 2.6 million working families who will be eligible for new childcare support announced in the Budget. This extra money (just under £1bn) will bring real help to those families who take it up and is very welcome. However, Resolution Foundation analysis published today shows for the first time how little this extra … Continued

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Budget analysis and reaction from the Resolution Foundation

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Fiscal Choices

On personal tax allowances – Small gains for the great majority of tax payers excluding the very highest and lowest earners. However three-quarters of the £1 billion goes to households in the top half. On fuel duty – The freeze on fuel duty will disproportionately benefit lower and modest income families. On childcare – Welcome … Continued

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