What governments did to ’support the economy’ was to get their ‘central bank’ (for us, the Bank of England) to buy loans to the government from the big institutions which lend the government money. This put money in the hands, not of most of the population who needed it, but the big banks and investment companies. And they’re always going to be happiest to pass it on to rich private equity funds and investors, who can make yet more money for all concerned. The theory, of course, is, that it will ‘trickle down’ to those at the bottom of the pile. That theory is, of course, utter bunkum.
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
