Tax relief on pensions serves to enrich the wealthy. That must change | Phillip Inman

Chancellors have fought shy of reforming a system in which higher-rate taxpayers benefit most. But £10bn could be saved

Pensions tax relief is a juicy morsel for the chancellor should he find a way to make it benefit the exchequer. Even a small slice of the £38bn spent each year subsidising pension saving could help thousands of schools and hundreds of hospitals that would otherwise be starved of cash.

A £10bn saving is not outside the bounds of possibility, and that is without even shaking the system to its foundations. All Philip Hammond needs to do in his autumn budget is take away the tax relief top-up offered to higher-rate taxpayers and the £10bn a year can be his.

Tax reliefs share the same​ thinking, which is that people won’t do the right thing without a ​​huge bung from the state

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Who are the British business leaders still backing Brexit?

After Aston Martin declared its bullish post-EU intentions last week, here are some other captains of industry who are sanguine about the future

The majority of big British business leaders are worried about the potential fallout from a no-deal Brexit. But amid the warnings over jobs losses, withheld investments, weaker economic growth and political unrest, some captains of industry are more sanguine.

Last week, Aston Martin shrugged off concerns over Brexit damaging the British car industry and announced its flotation plans, while household appliance maker Dyson has earmarked a £200m expansion of its research campus to test electric cars, with enough space for 2,000 people. Here are some of the British business figures who believe Brexit will not be negative for the economy.

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10 Weekend Reads

The weekend is here! Pour yourself a mug of Komodo Blend coffee, call shotgun for the ride tot he beach, and get ready for our longer form weekend reads: • How Big Tech Swallowed Seattle: Two tech titans made billions and remade the city. Is it any better off?  (BusinessWeek) • Where Will The Next Crisis Come From? (Schwab) • Who…

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