From pensions to bills, what the Budget means for you: TiM podcast
Dodging pensions, childcare, energy bills and recession: podcast special Dit is Geld Budget
Jeremy Hunt had a spring in his stride this week as he delivered his budget.
It was a very different mood from the gloomy warning of trouble ahead in his November fall statement.
The headline act was a major shake-up of pension savings rules, lifting restrictions that limit the amount that can be deposited without tax penalties.
The allowance for lifelong pensions was abolished instead of increased, the annual allowance was given a major push and the rules to prevent the pension cycle were relaxed.
Was this a stop for the wealthy shoveling money into their retirements — and doctors — or a move that will help many more young professional savers aspiring to a decent retirement, who may not realize that the life limit can be reached?
This week’s podcast features Georgie Frost, Helen Crane and Simon Lambert diving into the budget and joining them to explain the retirement element is a special guest, This is Money’s retirement columnist and ex-pension secretary Steve Webb.
Also in the budget was news about the economy, a glimmer of hope about the energy bill and a significant expansion of 30 hours of free childcare … but that is not coming in for the time being.
The team looks at all those elements and more.
And finally, as the budget made headlines, something else was doing the rounds: a mini-banking crisis triggered by the collapse of Silicon Valley Bank. What is going on there and should we be concerned?