Bulletin 52: Pensions and the Budget. What might the Chancellor do for Savers?
With the Election just around the corner, it’s tempting to engage in the guesswork of what the Chancellor might pull out of his hat for savers in general and specifically for pensions in his pre-Election Budget on the 18th March.
The pensions’ revolution the Chancellor sprung on us all last year was universally welcomed – and found favour with all Parliamentary Parties. That was good and augers well for the future of pensions – but for now we expect the Chancellor to pursue a more partisan line and in his Budget focus on a target audience of middle to lower income working families. Those with mortgages have benefitted greatly from interest rate suppression – but those with savings, typically in the older age groups have been left way behind. How then might the Chancellor curry favour with this group of committed voters, without incurring the Treasury’s displeasure?