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Around 700,000 people turning 65 next year will be hit the hardest The tax will take 3.5billion from more than 4.4million pensioners Senior Tories say the move is the Chancellor's biggest blunder

By Tim Shipman and James Coney

PUBLISHED: 17:52 EST, 22 March 2012 | UPDATED: 19:20 EST, 22 March 2012

The full extent of George Osbornes stealth tax raid on pensioners was laid bare yesterday.

Around 700,000 people turning 65 next year will be hit the hardest losing 323 annually with the end of age-related income allowances.

In all, the granny tax will take 3.5billion from the pockets of more than 4.4million pensioners. Senior Tories have denounced it privately as the Chancellors biggest blunder.

Burden: Around 700,000 people turning 65 next year will be hit the hardest - losing 323 annually with the end of age-related income allowances

The new rules are so arbitrary that some OAPs will lose far more than others born a day before them.

Ros Altmann of Saga said: Middle-class pensioners are outraged. My inbox is full of angry emails from those who did save for their future but are now hit.

The message of this Budget is, dont bother to save for the future and if youre too old to work any more you dont count.

See the article here:
Granny tax backlash: Fury as full scale of Chancellor's raid on pensioners emerges