Final chance to purchase tickets to tonight’s Budget Briefing here.
Fraser Nelson’s thoughts on George Osborne’s pensions revolution:
This will take a while to sink in – we simply have never seen this before in a Budget. George Osborne has just revolutionised the way pensions work; millions of people will have just found their pensions pot turned into a bank account. No wonder Osborne was briefing that he’d found a very radical, very ‘clever’ policy – this will make a massive pre-election difference to pensioners, the group most likely to vote at the next election. ‘It’s a matter for people to choose how they spend their money,’ chirped Danny Alexander afterwards – but the Treasury’s forecasts assume that they will spend, spend, spend. And in a way that actually raises money for HM Treasury because they tax what pensioners spend. Osborne is, quite literally, banking on a pensioner spending splurge.
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