Brown takes responsibility for pensions decision
Gordon Brown insists he made the "right decision"
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Tuesday, 03, Apr 2007 01:40
Gordon Brown has accepted full responsibility for changes to pension tax rules made ten years ago, insisting they were the "right decision".
It emerged last week that the chancellor had been warned that ending tax relief on share dividends could create a £75 billion pensions black hole.
Inland Revenue documents obtained by the Times under the Freedom of Information Act and a Financial Institutions Division paper said there were risks with Mr Brown's plans.
The Conservatives have called for a full debate in the House of Commons when MPs return form their Easter recess, but the chancellor's own defence of his actions has been backed up by the prime minister.
Sitting alongside Tony Blair at a Scottish campaign event in Glasgow, Mr Brown said: "It was my decision and I take full responsibility for it.
"If I were taking the decision again, this would be the right decision for Britain.
"It was the right decision to make for investment, for pensions and for the future of the British economy," he added.
And the prime minister went on to say that although it had been a "difficult" choice, the decision had been taken "in the rights interests of the economy".
Yesterday the Confederation of British Industry (CBI) accused the Treasury of a "convenient bit of spin" after a minister suggested the trade association had lobbied for the tax reform a decade ago.