Thatcher’s favourite think tank backs Danny Alexander
In the run-up to the Budget in March, Danny Alexander was pushing for the abolition of higher-rate relief on pension contributions, which would save the government £7 billion plus a year. George Osborne didn’t include it in his Budget, but today the Liberal Democrat gets support from a perhaps unlikely quarter: the Centre for Policy Studies. Echoing the Chief Secretary to the Treasury’s analysis, Michael Johnson’s CPS report says: ‘Today’s tax-based incentives to save for retirement are hugely expensive and, worse, ineffectively deployed. Skewed towards the wealthy, they do far less than they should to minimise pensioner poverty. Furthermore, they do little to catalyse a savings culture amongst younger workers,
