Budget 2010: Government considers cutting annual allowance - UPDATE 4

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The government is set to work with the industry on "alternative ways" to implement pension tax relief restrictions - and is considering reducing the annual allowance to as little as £30,000.

Chancellor George Osborne said: "Many businesses are alarmed at complexity. I have listened to those concerns, however, I must also protect £3.5bn revenue it would create. "I will work with indu...

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