but no article on pensions “reform” would be complete without special mention of Mr Brown’s act of pensions vandalism, when he removed the tax credit on dividends to help fund public spending. Without the abolition of this tax break, many funds would still be in surplus.
Is it actually true though? Anyone know?
Back when he did it it cost £5 billion a year, meaning a capital value of £50-£100 billion or so.
Is that enough to swing the whole system from viability to inviability?