Make pension tax relief only available to savers prepared to invest in UK, Andy Haldane says

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Pension tax relief costs the Treasury more than £50bn a year, with an additional £10bn for ISA reliefs, and Haldane proposed at the BCC conference that it be made conditional on savers investing in UK businesses. He said the UK pension system is the only one in the world without a home bias, and the government had considered mandates but pulled back after City lobbying. No new tax-rule detail was provided.