Lloyds CEO warns that Labour's proposed pension lump sum tax cut could harm the economy and impact savings.
Lloyds Banking Group CEO Charlie Nunn warned that Labour's potential plan to lower tax-free pension lump sums could harm the economy. The Labour Party is considering reducing the current maximum from £268,275 to £100,000 to generate £2 billion, alongside possible increases in national insurance contributions. This budget announcement on October 30 could significantly impact savings and pensions, raising concerns for both employees and businesses.
October 13, 2024
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