MPs Call For Gov't Review Of £38B Pension Tax Reliefs

Law360, London (July 20, 2020, 6:05 PM BST) -- The government must review whether the £38 billion ($48 billion) of pension tax reliefs provides value for money, a parliamentary committee said Monday as it raised concerns about whether the measures are only benefiting wealthy retirement savers.

The House of Commons Public Accounts Committee called on lawmakers to analyze U.K. tax reliefs after finding that they know little about how they work or their cost to the public purse.

The £38 billion pension reliefs that were forecast in 2019 are among the most expensive of the government's tax breaks, the committee, which scrutinized public spending, said. But lawmakers have not assessed...

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