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George Osborne is considering cutting the 50p top rate of income tax in next week's Budget, the BBC understands.
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BT says it will pay �2bn into its pension fund to help cover the scheme's deficit.
  
Prime Minister David Cameron will discuss the Budget with the chancellor and other senior ministers on Friday.
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It is one of the biggest one-off payments yet made by a company into a pension fund.
  
There is speculation the tax on earnings over �150,000 could be reduced to a 45p rate or scrapped entirely in return for tax cuts for low earners.
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The payment is part of a nine year plan to bolster the scheme, which at the last valuation in June had a deficit of �4.1bn.
  
Labour leader Ed Miliband said it was the "wrong priority" and money should be spent on jobs for young people.
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Supporting the pension fund has dragged down BT's performance. Back in 2008, the fund had a deficit of �9bn.
  
The coalition's "quad" of top ministers, Conservatives Mr Cameron and Mr Osborne and Lib Dems Nick Clegg and Danny Alexander are discussing the Budget by telephone on Friday.
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Under the latest plan, BT will make nine further annual payments of �325m.
Temporary tax
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All budget decisions will have been made by the end of Friday so that the details can be sent to the Office for Budget Responsibility.
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BT's pension fund has 330,000 members, making it one of the biggest private sector schemes in the country.
  
The government-appointed body will use these tax and spending decisions to make its economic forecasts.
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"This agreement, under which the company makes an immediate contribution to the scheme of almost half of the deficit, reflects BT's financial strength and re-affirms our commitment to the scheme," said chief executive Ian Livingston.
Continue reading the main story
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�Start Quote
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    For a chancellor sometimes likened to a submarine - George Osborne has never been timid about deploying a torpedo�
 
  
image of Ben Wright Ben Wright Political correspondent, BBC News
 
  
    Is Osborne planning a 50p tax surprise?
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BT, Royal Mail and Trinity Mirror - there is quite a lot going on in the fraught world of final salary pensions. �
  
The 50% income tax rate was introduced by the previous Labour government in 2010, to help pay for declining government revenues during the recession.
 
  
Mr Osborne has always said it was a temporary measure and has asked officials to assess how much extra it is raising.
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"BT's long-term sustainable cash generation has improved significantly since the 2008 valuation and we remain focussed on improving BT's financial strength, investing in our future and enhancing shareholder returns."

Edição atual tal como 19h25min de 4 de outubro de 2012

BT says it will pay �2bn into its pension fund to help cover the scheme's deficit.

It is one of the biggest one-off payments yet made by a company into a pension fund.

The payment is part of a nine year plan to bolster the scheme, which at the last valuation in June had a deficit of �4.1bn.

Supporting the pension fund has dragged down BT's performance. Back in 2008, the fund had a deficit of �9bn.

Under the latest plan, BT will make nine further annual payments of �325m.

BT's pension fund has 330,000 members, making it one of the biggest private sector schemes in the country.

"This agreement, under which the company makes an immediate contribution to the scheme of almost half of the deficit, reflects BT's financial strength and re-affirms our commitment to the scheme," said chief executive Ian Livingston.


BT, Royal Mail and Trinity Mirror - there is quite a lot going on in the fraught world of final salary pensions. �


"BT's long-term sustainable cash generation has improved significantly since the 2008 valuation and we remain focussed on improving BT's financial strength, investing in our future and enhancing shareholder returns."

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