Member

This Government have materially weakened the incentives for people to do the right thing by limiting tax benefits, bringing them within the ambit of IHT and requiring excessive prudence and excessive de-risking as you approach retirement, even though you may still have 30 years to go. It is no wonder that rather than investing in their long-term future, youngsters are now being driven into cryptocurrencies, private credit and all manner of unregulated assets, whether it be whiskey barrels, Star Wars characters or Lego sets—tangible assets they can touch. The point is that this Government have changed people’s behaviours, driving them from steady, lower-risk pension assets into high-risk speculative products of the Wild West, many of which could never provide an income.