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Labour plans to slash pensions tax relief for richest
by Daniel Grote on Jan 04, 2013 at 07:41
Labour is to unveil plans to cut pensions tax relief for top rate payers to just 20% to fund a compulsory job scheme for the long-term unemployed, according to the Financial Times.
The move would raise around £1 billion and hit those paying the 45p tax rate, leading to them facing an additional tax bill of £10,000 a year.
Shadow chancellor Ed Balls (pictured) will unveil the plans today, according to the FT. They are expected to fund a ‘jobs guarantee’ for those unemployed for more than two years, with the government paying the minimum wage and national insurance.
The jobs in the private or voluntary sector would last six months and are intended to help the unemployed find a permanent job. Those who refused to take part would face penalties.
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iShares: Time to shatter the ETF myths
As result of industry changes - the retail distribution review - and a growing focus on cost-efficient solutions, we anticipate the number of investors using ETFs will rise significantly over the coming years.
But as with any newer product, especially in the financial world, various misconceptions about ETFs have perpetuated over the years and iShares is committed to addressing and ultimately dispelling these.
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by Jun Merrett on Jun 20, 2013 at 11:16