Reeves plans overhaul of pensions to boost growth
The Guardian|November 14, 2023
Rachel Reeves is proposing to shake up Britain's pension system as part of a three-pronged plan aimed at boosting the economy's sluggish growth rate if Labour wins the next election
Larry Elliott
Reeves plans overhaul of pensions to boost growth

The shadow chancellor wants more of the money currently saved for retirement schemes to find its way into support for expanding UK businesses and says her changes could increase the size of the average pension pot by up to £37,000.

The chancellor, Jeremy Hunt, will announce plans to lift the economy's growth rate in next week's autumn statement but Reeves said the 25 tax increases announced by the government in recent years were evidence of its failure since 2010.

"It is because the Tories have failed to grow the economy that they are picking the pockets of ordinary working people," she said.

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