Jeremy Hunt battling to justify pensions giveaway to the top 1%

Move will have no impact on NHS retention of doctors, say economic thinktanks

• Budget 2023: key points at a glance
• What the budget means for people on a range of incomes

Jeremy Hunt is battling to justify his budget pensions giveaway to the 1% after two leading economic thinktanks warned it could have no impact on NHS retention while opening up a vast new loophole for tax avoidance.

The Institute for Fiscal Studies and the Resolution Foundation both said it was doubtful the £1bn tax break would meet the chancellor’s stated goal of retaining more senior doctors in the workforce, and could allow wealthy individuals to avoid inheritance tax.