beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,031
I might have worded it better. From the Which website:-
If you are a basic-rate taxpayer and were to contribute £100 from your salary into your pension, it would actually only cost you £80.
The government adds an extra £20 on top – what it would have taken in tax from £100 of your salary.
Did you read the link posted earlier?
That £5b is still from money earned by the pension pot and not the pension pot itself.
they like to put it in those terms, making it sound like you've been done a favour by having your money given to you. the "cost" is take home reference is to take home pay after tax. the main point is the government doesnt give you £20, note the total in the Which is still £100, not £120 from the earlier post.
im familar with the link, doesnt matter where the money is earned, its still >5bn redirected from us to the government, quietly behind the scenes for less fuss. dont you think it would be better for a straight increase to income tax?