Scrap the taper for all high earners

If they want to take it from pensions then what this whole futile exercise has reminded us is that if you want to raise serious revenue, then apply a small tax across a wide-base and do not attempt a large tax across a narrow base.

There is a lesson in here for us all: whenever personal finances permit, we should maximise our usage of pension and Isa allowances each year, as they may not always be as generous going forward. 

Adrian Boulding is head of retirement strategy at Dunstan Thomas