I know we are a little way off the budget, but this is a rumour network and home to much speculation and teeth nashing - what do we think Phil the Spreadsheet is likely to do to pensions this time round? After all, the spending commitments are stacking up and the money has to be found from somewhere. I think Andrew Marr counted something like £11Bn worth of extra spending in just one interview he did on Sunday morning.
Former pensions minister Steve Webb is already out of the blocks early suggesting that cuts to tax relief or the annual & life time allowances would help balance the books and would pass the Daily Mail test as most people think £1 million pound pension pots are the preserve of the uber rich.
Cuts to pension tax relief? You can count on it, says Webb - Citywire
What's the current mood music around the bazaars? Discussing it at work this afternoon and my 1-star is already doing the calculations to jump ship if his pension is taxed any further on the grounds that it just wouldn't be worth it at his time of life, may as well pull stumps and retire to the pavilion early. And I can't imagine he is the only one - in their efforts to penalise the wealthiest, the Tax Man's grubby mits are now well into the pockets of those in the middle of the pack rather than just at the top.