11 October 2007
Tory shadow work and pensions spokesman Chris Grayling has
spoken out over changes to the State Second Pension (S2P) that will
make the Treasury £730m in 2009 and 2010, and another
£440m in 2011.
As stated in his Pre-Budget Report (see yesterday's new item),
Chancellor Alistair Darling has decided to bring forward the date
at which accruals to the state second pension start to become flat
rate. Mr Grayling called the change a "£2bn pensions tax
raid", adding: "After the damage that Gordon Brown has done to our
pensions systems in the past 10 years, it beggars belief that his
Government would bury another multi-billion pound tax raid on
pensions in the small print of its Pre-Budget Report. This is
nothing less than a new stealth tax on retirement."
