British Prime Minister Rishi Sunak and finance minister Jeremy Hunt plan to reveal a stealth tax raid on pensions later this month, The Telegraph reported on Friday.
British Prime Minister Rishi Sunak, alongside Chancellor of the Exchequer Jeremy Hunt holds his first Cabinet meeting in Downing street, London, Britain October 26, 2022. Stefan Rousseau/Pool via REUTERS
The allowance level has risen with prices in the past, but Sunak, as the finance minister last year, froze the allowance until 2025. The move was forecast to bring the Treasury close to a billion pounds over the period, Telegraph said.
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