Government to hammer pensions

George Osborne could slap pensions with any one of a welter of taxes in the Autumn Statement, tax experts told City A.M. yesterday, as part of the government’s plan to put more of the burden of austerity on the wealthiest people in the UK. The most likely measure the chancellor might adopt was lowering the annual tax-free pensions allowance from £50,000 to around £30,000, Ernst & Young tax specialists said.