With that in mind, here are three popular measures the new chancellor could pursue without spending a penny of taxpayers’ money. Pension providers, including AJ Bell, warned that the absence of clarity over the future of pension tax incentives was creating instability. Data for 2025/26 has yet to be published, but the experience of AJ Bell and other pension providers strongly suggests withdrawals will remain elevated. AJ Bell urges chancellor to end pension tax speculationGiven how complex and politically toxic a tax-free cash raid would be, it is unlikely to be an appealing option for the new chancellor. Proposals driven by Healey’s predecessor to reduce the Cash Isa allowance to £12,000 for people under 65 from April next year have been widely criticised for being overly complex and potentially ineffective in boosting retail investing.