Jeremy Hunt handed a huge pensions giveaway to the wealthiest 1% to help stem the tide of people leaving the workforce, in a budget designed to reboot Britain’s faltering economy with business investment incentives and childcare support.
In an attempt to keep older skilled workers from retiring early, Hunt announced his only big surprise of the budget – to scrap the £1m cap on tax-free pension savings, saying: “No one should be pushed out of the workforce for tax reasons.”
