Pensions and benefits are set to rise in line with inflation, while inheritance tax is facing a freeze that would cause a ‘stealth rise', according to reports. After previously saying that "difficult decisions" had to made, Prime Minister Rishi Sunak faced significant pushback on cutting real benefits by not raising them in line with inflation. The Times reported the pledges have been sent to the Office for Budget Responsibility to be forecast into the Autumn Budget, which will cost an estimated £11bn next year. Nevertheless, it is still expected that there will be public spending ...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes