But, if financial commentators get their way, then the opposite is likely to be the case – particularly on the pension front.
As Matthew Brown, Private Client Partner at Thomas Miller Investment, said: “Wednesday’s announcement has the potential to be one of the most interesting Autumn Statements for years. However, if I could have one wish for the Autumn Statement it would simply be that pensions are left well alone. We have had so much change on that front we could do with a breather!”
Indeed, simplicity seems to be the watchword running through most of the preview commentaries that made it into Portfolio Adviser’s inbox.
Richard Harwood, divisional director, financial planning at Brewin Dolphin, is also of the view that less will most certainly be more on the pensions front.
“The Chancellor has tinkered too much with pensions recently. He has given flexibility on access to funds with one hand but taken away tax relief for higher earners with the other. I hope that he will not make further changes although that is not guaranteed.”
For Adrian Lowcock, head of investing at AXA Wealth, while the aim behind the myriad changes made to ISAs in recent years were well intended, the result has made them much more complicated than they were originally meant to be.
“The appeal of ISAs has always been their simplicity. We would encourage a period of review and consideration with no further tinkering of the ISA rules to ensure as much as possible is done to encourage people to save and invest for their future,” he added.
Portfolio Adviser has already looked at the possible implications of recent growth in the public debt on the Autumn Statement, but exactly how Osborne looks to ‘soften the blow’ of the House of Lords’ decision to halt the cuts to tax credits is likely to be the other major talking point.
