The importance of keeping it 'real'

It is more than a decade since New Labour removed the tax credit on dividends on pension funds and i...

It is more than a decade since New Labour removed the tax credit on dividends on pension funds and in many ways it has become a classic example of an ill-thought out policy idea that produced and continues to produce damaging long-term consequences. At the time of its announcement, Gordon Brown was still revelling in his self-proclaimed image of the prudent chancellor and the debate over tax credits was largely confined to the financial services industry and ignored by the general public. It is fair to say during the past 10 years the debate has not ventured further than those of us wit...