An adviser to the man likely to be Britain's next prime minister wants to tax pension savings that go overseas more heavily than money invested at home, a change that could cut into the returns on millions of retirement pots. The tax break topping up every contribution would become a lever, with the full perk depending on where the money goes.
Andy Haldane, president of the British Chambers of Commerce and the Bank of England's chief economist from 2014 to 2021, set out the idea on 25 June 2026. It carries weight because he is reported to be advising Andy Burnham, the frontrunner to succeed Keir Starmer next month.
