Budget 2016: why did Osborne back down on pension tax reform?

Some believe U-turn is a "missed opportunity", while others say plans would have 'double-taxed' some savers

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(Image credit: Stefan Rousseau - WPA Pool/Getty Images)

This week saw Chancellor George Osborne make another one of his infamous policy U-turns, this time on pension tax reform. “So many u-turns and 180-degree swivels has Mr Osborne performed that his chancellorship increasingly resembles an experimental dance routine,” says Ed Conway in The Times.

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