Steve Webb has simplified the potential impact on pensions of a November 26th budget.
If you want to read the document , it’s here and you can download it
Webb refers in the paper to the 2021 budget when he was pension minister and had no control of what Osborne did. Here Webb casts his mind back as well as projecting forward till November 26th 2025.
To find out the detail of the arguments, check out the document. If you want to speak with Webb, he is speaking at our Pension PlayPen this morning, the details are here.
Webb speaks on tax this morning . 10.30 am this morning
Of course , more than 13 years on, he has had time to think through what he’d have done if he had the opportunity of Torsten Bell, to work with the Treasury in crafting this year’s budget.
Intellectually and with a similar background in think-tanks (IFS for Webb) , I’d expect a lot of common ground between Webb and Bell. I’ve joked with Webb that the chart that appears on his linked in post (and centers in the paper) has too much green and not enough orange.
A former Liberal MP remains liberal! The forthcoming budget is an opportunity for Webb to do what he couldn’t do in 2012. I hope he will influence Torsten Bell’s thinking on pension taxation.