The Chancellor is faced with a difficult balancing act

For pensions, the lifetime allowance abolition is still set for April 2024 and the Chancellor announced a number of proposals to support his Mansion House reforms to enable pension funds to invest in productive finance. The Government has announced a ‘pot for life’ proposal that will change this by ensuring the pension pot can move with the employee from job to job, which will help resolve the proliferation of small pots caused by the current system. Meanwhile, better than expected public finances allowed the Chancellor to help individuals with a cut to national insurance contributions and...