Resolution Foundation Proposes Tax Hikes to Raise £20 Billion Annually

Think tank's recommendations include changes to pension contributions, capital gains, and inheritance taxes to address fiscal shortfall.

The Resolution Foundation proposes tax hikes on pension contributions, capital gains, and inheritances to raise over £20 billion annually.
The think tank suggests scrapping National Insurance relief on employer pension contributions and making employee contributions tax-free.
Changes to capital gains and inheritance taxes could generate significant revenue while targeting wealthier individuals.
Labour faces pressure to balance fiscal responsibility with maintaining public service funding in the upcoming budget.
Experts warn that taxing pension contributions could discourage employers from offering generous retirement benefits.