Analysis by the Office for Budget Responsibility has found that the removal of tax relief on the pensions of higher earners will cost the Exchequer £5bn a year, and that those affected will instead put money into property or tax-efficient investment.
The OBR also found that the government lost out on hundreds of millions of pounds of revenue by pre-announcing stamp-duty changes.
The announcement of a stamp duty surcharge on second homes in November 2015, four months before it came into effect, is estimated to have cost the government around £300m.
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