This is Money Podcast The Budget verdict: Pensions, childcare, energy bills and dodging recession
Mar 17, 2023
59:09
Jeremy Hunt had a spring in his step this week as he delivered his Budget.
It was a considerably different air to the gloomy warning of trouble ahead in his November Autumn Statement.
The headline act was a major shake-up of pension saving rules, removing restrictions that limit the amount that can go in without tax penalties.
The lifetime allowance was abolished rather than raised, the annual allowance got a big bump, and rules to stop pension recycling were eased.
Was this a bung for the rich shovelling cash into their pension - and doctors - or a move that will help many more young professional savers aspiring to a decent retirement, who may not realise the lifetime limit could be hit?
On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert delve into the Budget and joining them to explain the pensions element is a special guest, This is Money's retirement columnist and ex-pensions minister Steve Webb.
Also in the Budget was news on the economy, a ray of hope on energy bills, and a big expansion of free childcare... but it won't come in for some time.
The team look at all those elements and more.
And finally, as the Budget claimed the headlines something else was rumbling on: a mini-banking crisis sparked by the Sillicon Valley Bank collapse. What is going on there and should we be worried?
It was a considerably different air to the gloomy warning of trouble ahead in his November Autumn Statement.
The headline act was a major shake-up of pension saving rules, removing restrictions that limit the amount that can go in without tax penalties.
The lifetime allowance was abolished rather than raised, the annual allowance got a big bump, and rules to stop pension recycling were eased.
Was this a bung for the rich shovelling cash into their pension - and doctors - or a move that will help many more young professional savers aspiring to a decent retirement, who may not realise the lifetime limit could be hit?
On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert delve into the Budget and joining them to explain the pensions element is a special guest, This is Money's retirement columnist and ex-pensions minister Steve Webb.
Also in the Budget was news on the economy, a ray of hope on energy bills, and a big expansion of free childcare... but it won't come in for some time.
The team look at all those elements and more.
And finally, as the Budget claimed the headlines something else was rumbling on: a mini-banking crisis sparked by the Sillicon Valley Bank collapse. What is going on there and should we be worried?