Osborne to change pension rules

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Published: Sunday 15th March 2015 by The News Editor

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George Osborne is set to woo millions of older voters with a change in pension rules in his final budget but has insisted there will be “no giveaways, no gimmicks”.

The Chancellor will give five million pensioners with existing annuities the right to cash them in from April next year.

Mr Osborne refused to say if the budget would be fiscally neutral but insisted he had been clear that Britain must “pay its way”.

He told BBC One’s Andrew Marr Show: “No giveaways, no gimmicks. A budget for the long-term.

“Everything we do in this budget has to be paid for. That has been the central argument I’ve made all along.”

Mr Osborne said the Conservatives would set out detailed plans for balancing the books after the election.

“This country is still borrowing too much so we have to go on making difficult decisions,” he said.

Published: Sunday 15th March 2015 by The News Editor

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