Jeremy Hunt is helping rich instead of helping people into work, says thinktank

Jeremy Hunt leaves Downing Street on Wednesday before his budget speech. Photograph: Dan Kitwood/Getty

Jeremy Hunt’s huge pensions giveaway for the wealthiest 1% may have no impact on increasing the number of people in work, while opening a loophole for avoidance of inheritance tax, a leading economic thinktank has warned.

The Institute for Fiscal Studies said the surprise measure in the chancellor’s budget probably would not “play a big part, if any” in increasing the number of people in work.