Chancellor Alistair Darling’s reduction of higher rate tax relief has been criticised by industry commentators following the Budget report.

Chancellor Alistair Darling’s proposals for a 50% higher rate of tax could have an adverse effect on trusts, according to law firm Pemberton Greenish.

Click here to listen to a special edition of the Pensions Management podcast, previewing the 2009 Budget, with contributions from Robin Ellison, Tom McPhail, Mike Morrison, George Bull and Mike Fosberry.

To hear Pádraig Floyd's exclusive interview with Aegon chief executive Otto Thoresen, click here.

Lord Turner's report into the banking crisis was published on March 18. Financial industry professionals praised his "considered" approach which called for "major changes" to the regulatory system.

Lord Turner has said that “major changes” in regulation are required for a global recovery from the banking crisis.