Gregg McClymont – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Gregg McClymont on 2014-04-07.

To ask Mr Chancellor of the Exchequer, if he will publish an impact assessment of planned changes to pensions from 2015 as announced in the 2014 Budget.

Mr David Gauke

HM TREASURY

MP Gregg McClymont MP

CUMBERNAULD, KILSYTH AND KIRKINTILLOCH EAST

To ask Mr Chancellor of the Exchequer if he will publish an impact assessment of planned changes to pensions from 2015 as announced in the 2014 Budget 195423

DAVID GAUKE

The expected Exchequer impacts over the forecast period of the changes made to private pensions taxation as announced at Budget 2014 were included in the Taxes Information and Impact Note “Increasing Pension Flexibility” published on 19 March 2014 and can be found in Table 2.1 (p.56) of the Red Book.

The Treasury announced in paragraph 1.13 of “Freedom of Choice in Pensions” that “it intends to publish draft legislation for a short technical consultation prior to the introduction of the legislation that will enact the changes from April 2015”. A consultation impact assessment will be published alongside this draft legislation.