Sentences with phrase «cutting pension relief»

The Conservative Party's favourite Liberal Democrat will recommend a mansions tax and cutting pension relief for higher - rate taxpayers.

Not exact matches

In 2006, the Pension Protection Act made the retirement savings provisions of EGTRRA permanent and In 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act extended the Bush tax cuts through 2012 (along with several new tax cuts created by the American Recovery and Reinvestment Tax Act of 2009).

Budgets have turned into raffles when major U-turns on everything from tax credits and pension relief, disability payments and police cuts, and of course the crumbling of the notorious pasty tax, mean a group of angry MPs, led by disrespectful rebels in the Tory ranks, will pick big ticket items and batter a once unassailable Chancellor into another humiliating change of direction.

With the city facing more budget cuts or even, as she suggested, «insolvency,» Miner was hoping for relief in an area where Albany is itself the prime culprit because of the exploding cost of pensions and benefits promised to public employees.

A dress rehearsal on The Andrew Marr Show portrayed the chancellor in a defiant mood; suggesting heavier cuts for the rich — in the form of cutting pension tax relief.

In a speech at the Open University in Milton Keynes this morning, Mr Smith said: «I'll reform pension tax relief so that the richest pay more and low - paid workers see the benefit through higher pensions, a real living wage and reversing the Tories cuts to universal credit.

Meanwhile the Chancellor has cut tax relief for pension contributions — but only by # 200m in 2013/14 rising to # 600 million in 2015/16.

That this House declines to give a Second Reading to the Welfare Benefits Up - rating Bill because it fails to address the reasons why the cost of benefits is exceeding the Government's plans; notes that the Resolution Foundation has calculated that 68 per cent of households affected by these measures are in work and that figures from the Institute for Fiscal Studies show that all the measures announced in the Autumn Statement, including those in the Bill, will mean a single - earner family with children on average will be # 534 worse off by 2015; further notes that the Bill does not include anything to remedy the deficiencies in the Government's work programme or the slipped timetable for universal credit; believes that a comprehensive plan to reduce the benefits bill must include measures to create economic growth and help the 129,400 adults over the age of 25 out of work for 24 months or more, but that the Bill does not do so; further believes that the Bill should introduce a compulsory jobs guarantee, which would give long - term unemployed adults a job they would have to take up or lose benefits, funded by limiting tax relief on pension contributions for people earning over # 150,000 to 20 per cent; and further believes that the proposals in the Bill are unfair when the additional rate of income tax is being reduced, which will result in those earning over a million pounds per year receiving an average tax cut of over # 100,000 a year.

The annual limit on payments that people can make into their pension and still receive tax relief will be cut from # 250,000 to between # 50,000 and # 30,000.

Public sector unions can breathe a sigh of relief after last month's state Supreme Court ruling: an Illinois pension reform law that would have cut benefits for existing workers was declared unconstitutional.

Conservatives: Introduce a «tax lock» plan to prohibit federal income tax and sales tax hikes along with increases to payroll taxes such as EI premiums for the next four years; cut EI premiums in 2017 from $ 1.88 to $ 1.49 per $ 100; phase in a new $ 2,000 Single Seniors Tax Credit, providing tax relief of up to $ 300 a year for seniors with pensions starting in January 2017; increase the Child Care Expense Deduction by $ 1,000 for children under age 7 to $ 8,000, to $ 5,000 for kids ages 7 to 16 and to $ 11,000 for children with disabilities.

While slashing pensions relief has been mooted as a potential route to financing a cut to NIC for younger earners it is difficult to see whether the government actually has the ability, and political will, to roll out significant reform.