‘Simplification’? Count the spoons!

George Osborne just announced a “tax simplification” measure for pensioners’ tax allowances.

Count your spoons time! Harmonising allowances for over 65’s with everyone else’s allowances will mean the over 65’s get less tax free over the years.

We’ll find out how much in a moment when we get the Red Book.

George Osborne says pensioners don’t lose out, but that may be taking all government policy – the triple lock on pensions – into account.