Member

1C: After Clause 1, insert the following new Clause— “Economic and behavioural impact assessment: basic rate taxpayers: Great Britain (1) The Secretary of State must— (a) prepare an economic and behavioural impact assessment of the expected effects of the provisions of this Act on basic rate taxpayers in Great Britain, and (b) lay that assessment before Parliament. (2) The assessment must, in particular, include— (a) an analysis of the expected behavioural effects of the provisions of this Act, including changes to pension contribution patterns, salary sacrifice arrangements, and employment practices, and (b) an assessment of the expected impact on net incomes, pension savings, and pension adequacy, for basic rate taxpayers. (3) In preparing the assessment, the Secretary of State must have regard to— (a) the adequacy of retirement incomes, and (b) the effect of the £2,000 cap on long-term financial security, for basic rate taxpayers.””