Labour promises to reverse Jeremy Hunt’s pensions ‘giveaway for richest 1%’

Rachel Reeves vows to reverse ‘free-for-all for wealthy few’

Labour has promised to reverse chancellor Jeremy Hunt’s £1bn pensions tax ”giveaway for the wealthy” if it wins power at the general election expected in 2024.

Shadow chancellor Rachel Reeves said the party will seek to force a Commons vote next week on the Budget decision to scrap the lifetime pensions allowance (LTA).

Scrapping the so-called “doctors tax” is designed to prevent senior consultants retiring early from the NHS because the current pension rules mean it is not worth them carrying on working.