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In July 2024, chancellor of the exchequer Rachel Reeves MP confirmed that she will raise taxes in October’s budget. Reform of tax relief on pension contributions is said to be on her menu of options. Such changes have been proposed previously by the Fabian Society. In this report, the Fabian Society’s general secretary, Andrew Harrop, sets out the case for measures to reduce and redistribute pension tax relief. He also sets out a menu of reform options.
The Fabian Society is a prominent left-leaning political think tank in Britain, dedicated to promoting progressive ideas and public policies. As the country's oldest think tank, established in 1884, the Fabian Society has played a significant role in shaping political discourse and influencing policymaking on the left.
The Society's core mission revolves around advocating for greater equality of power, wealth, and opportunity, emphasizing the value of collective action, public service, accountable democracy, human rights, sustainable development, and international cooperation. It serves as a platform for open-minded debate, research, and analysis on a wide range of issues, including government and politics, culture and society, health and wellbeing, healthcare and pharmaceuticals, and scientific matters.
With a membership base of nearly 7,000 individuals, the Fabian Society operates as a democratically-constituted organization, governed by an elected Executive Committee. Its activities encompass publishing periodicals, books, reports, and digital content, as well as organizing national conferences, policy seminars, and commissioned research projects.
The Fabian Society maintains a close affiliation with the Labour Party as a Socialist Society, having been one of the party's original founders. However, it remains editorially, organizationally, and financially independent, collaborating with various partners across the political spectrum.
Through its diverse range of publications, events, and member-led activities, including local societies, the Scottish and Welsh Fabians, the Fabian Women's Network, and the Young Fabians, the Fabian Society aims to shape public opinion, influence policymaking, and foster informed discussions on pressing issues facing society.
