Pensions: George Osborne loses his nerve

Some have compared it to a farce worthy of Alan Ayckbourn, others have condemned it as a missed opportunity. Whatever your opinion, the Chancellor’s U-turn on pensions reform is a blow for low income workers and a boost for middle-class savers.

Under proposals mooted by the government (and let’s not forget that they were no more than that – proposals), a radical shake-up of pensions was due to be unveiled in the Budget later this month.