Alan Brown Scottish National Party, Kilmarnock and Loudoun
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 29 June 2016 to Question 41169, whether his Department has made (a) an assessment of the potential merits and (b) an estimate of the potential costs of limiting taxation of pensions to the basic rate.
David Gauke The Financial Secretary to the Treasury
Responses to the Treasury’s recent pensions tax consultation indicated that there was no clear consensus for reform. The Government concluded in its response at Budget 2016 that now is not the right time to undertake fundamental reforms to the pension tax system.