What is Jeremy Hunt’s pensions giveaway and who gains most?

Chancellor’s changes have been criticised as a multibillion-pound handout to Britain’s wealthiest

Jeremy Hunt’s multibillion-pound tax giveaway to Britain’s wealthiest pension savers is coming under fire from various quarters, with Labour vowing to reverse the move andothers saying it is like using a sledgehammer to crack a nut.

Financial firms have said the changes to pension allowances could let high earners who can afford it build up pension pots worth as much as £9m while enjoying the full tax benefits.