Summary of 2016 Budget: Impacts on Financial Services Businesses

In last year’s Autumn Statement, the chancellor had promised us details of pension reforms he had been consulting on.  This had been the subject of much hype and speculation, until the news emerged two weeks ago that there would be no new pension reforms.

Instead, with a downturn in the global economy the country was now primed for the announcement of further cuts to public spending to balance the books, in Osborne’s bid to achieve a budget surplus by the end of this parliament.