Pensions: Is Government ‘doing a Brown’ ?

3rd March 2011

The then Labour Chancellor phased out advance corporation tax credits on dividends which pension funds and non-tax paying Isa savers had been able to claim back.

The Conservatives blamed the move for the decline of company pensions in the UK, or at least for the decline of the very generous type of scheme known as the final salary pension.

They set it in the context of what the Conservatives said was Labour's overall neglect of savings.

Although Brown denied it, and experts argued about it, the Tories said by costing company pensions billions every year, it ultimately had cost pensioners billions too.

Now the former Conservative pensions spokesman Nigel Waterson has accused the Coalition, but in particular the Treasury, of carrying out another raid on a par with new Labour's move.

His dim view of Government policy is reported here on financial adviser website Money Marketing.

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