Budget 2012: Osborne defends pensioner tax allowance plans
George Osborne has defended plans set out in his Budget to end age-related tax allowances for pensioners.
It will lead to 4.4m pensioners being an average £83 a year worse off, the HMRC says.
Speaking on BBC Breakfast, he denied the claim, saying no pensioner would be worse off in cash terms, highlighting a "record increase in the basic state pension".