Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the (a) total cost and (b) estimated financial benefit to doctors is of the policy to abolish the lifetime allowance on pension savings.

As published on Budget Day, the total cost of the removal of the lifetime allowance charge from April 2023 and full abolition from April 2024 will be £2.75 billion over the scorecard period. This can be found on page 14 of the Policy Costings document.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1142824/Costing_Document_-_Spring_Budget_2023.pdf