Spring Budget 23: Industry reaction

"Spoiler: the current LTA only impacts the wealthiest"

John Brazier
clock • 4 min read

Protection and health insurance industry participants offer their thoughts on the Spring Budget, focusing on announcements on Occupational Health, worker support and the absence of tax breaks.

While the majority of attention from the Spring Budget was focused on significant changes to pensions savings - which will in turn impact on group life protection schemes - other changes relating to the protection and health insurance sector were also unveiled during Jeremy Hunt's budget. The removal of the lifetime allowance (LTA) on pensions savings formed a key part of the government's efforts to entice more people back to work, however David Williams, head of group risk at Towergate Health & Protection, said the move will have little impact on people who are out of work due to sickne...

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