:00:21. > :00:27.The Chancellor, George Osborne, has dropped plans to cut tax relief
:00:28. > :00:31.He had been expected to announce the move in the Budget in less
:00:32. > :00:33.than two weeks, but was warned the changes could reduce
:00:34. > :00:37.Campaigners say he has missed a "huge opportunity" to tackle
:00:38. > :00:38.pension inequality and help the lower paid.
:00:39. > :00:43.Our Political correspondent, Chris Mason reports.
:00:44. > :00:46.In less than a fortnight George Osborne will dust off his red
:00:47. > :00:50.We now know one thing that won't be in it.
:00:51. > :00:55.The current system allows workers to put some of the money that
:00:56. > :00:58.would have been paid in income tax into a pension pot to allow
:00:59. > :01:02.all but the very richest to save for old age tax-free.
:01:03. > :01:04.Income from that pension is then taxed when
:01:05. > :01:10.This arrangement is going to stay, a decision welcomed by a former Lib
:01:11. > :01:18.It is very good news the Chancellor has dropped
:01:19. > :01:21.his pensions ISA idea where you tax people's money as they go
:01:22. > :01:23.into a pension because I simply do not
:01:24. > :01:25.think people would have trusted politicians of future generations
:01:26. > :01:31.People need confidence in pension saving and a promise of a politician
:01:32. > :01:33.in a generation would not have given that confidence.
:01:34. > :01:34.The current system benefits the better off.
:01:35. > :01:36.Higher earners pay income tax at a higher
:01:37. > :01:51.rate and so avoid paying more of it by saving more for their attention.
:01:52. > :01:55.rate and so avoid paying more of it by saving more for their pension.
:01:56. > :01:57.So the government decision not to change things
:01:58. > :02:01.It is a missed opportunity to try to make the pension system
:02:02. > :02:04.better for people like the self-employed and people on zero
:02:05. > :02:06.hours contracts and other people who are facing economic
:02:07. > :02:09.But the Chancellor has concluded now is not the time
:02:10. > :02:13.We will find out exactly what he does have planned on budget
:02:14. > :02:17.With me now is our Poltical Correspondent Chris Mason.
:02:18. > :02:25.What are the politics of this? In the short-term there were too many
:02:26. > :02:28.critics of the plan. So the pension industry, nervous and many
:02:29. > :02:35.Conservative MPs nervous, as they felt it would take away a perk from
:02:36. > :02:41.core voters. Arguing that better off people pay income tax already.
:02:42. > :02:45.Government are nervous about incentive, putting off people from
:02:46. > :02:50.saving. But the law is that political report is that we have to
:02:51. > :02:56.talk about the EU referendum. Yes, there is a connection. Government in
:02:57. > :03:01.nervous, given an appointment in the polling station for the voters about
:03:02. > :03:06.creating reasons why people pay want to exact revenge on ministers. One
:03:07. > :03:10.reason amongst a number leading to the postponement, which begs the
:03:11. > :03:15.question, could it come back? Is it an issue that the Government may
:03:16. > :03:18.The Director General of the British Chambers of Commerce
:03:19. > :03:20.has been temporarily suspended over his comments about Britain
:03:21. > :03:24.On Thursday John Longworth said that "the UK would be better off taking
:03:25. > :03:26.a decision to leave the European Union".
:03:27. > :03:27.He's stressed that's a personal opinion -
:03:28. > :03:29.but the organisation's policy is to remain neutral
:03:30. > :03:34.in the forthcoming in-out referendum.
:03:35. > :03:36.Turkish police have raided the offices of Zaman,
:03:37. > :03:39.the country's biggest newspaper, hours after a court ruling placed it
:03:40. > :03:43.Police entered the building in Istanbul late yesterday,
:03:44. > :03:51.firing tear gas at protesters who had gathered outside.
:03:52. > :03:53.Turkey says Hizmet is a "terrorist" group aiming to overthrow
:03:54. > :03:56.Homes and cars have been damaged in County Antrim overnight,
:03:57. > :03:59.after thieves broke into a fire station, stole a fire engine
:04:00. > :04:03.Two men, aged 66 and 19, are being questioned by police.
:04:04. > :04:05.It's understood that no-one was injured in the collision
:04:06. > :04:10.which happened at around 4.30 this morning.
:04:11. > :04:14.China's economy faces a "diffcult battle ahead".
:04:15. > :04:16.That's the warning from the country's Premier at the start
:04:17. > :04:25.The meeting, which sets out China's agenda for the year ahead,
:04:26. > :04:28.has been warned of another slow-down in the rate of economic growth.
:04:29. > :04:33.Once a year, China Opens the gates on a peace of political theatre.
:04:34. > :04:36.The Communist Party leaders use the event to tell the 3,000
:04:37. > :04:38.delegates what policy will be and this year,
:04:39. > :04:45.they said, economic growth may fall as low as 6.5%, the lowest
:04:46. > :04:53.TRANSLATION: Domestically, problems and risks that have been
:04:54. > :04:57.building up are becoming more evident.
:04:58. > :05:02.Downward pressure on the economy is growing.
:05:03. > :05:05.The Chinese Premiere spoke about huge overcapacity
:05:06. > :05:16.in manufacturing, what he called "zombie enterprises".
:05:17. > :05:24.This shipyard, with its rusting, unfinished hulls is already closed.
:05:25. > :05:27.This shipyard, with its rusting, unfinished hulls, is already closed.
:05:28. > :05:29.Others will follow along with steel mills and coal mines,
:05:30. > :05:31.an admission of the need for painful reform.
:05:32. > :05:33.TRANSLATION: People are looking everywhere for work.
:05:34. > :05:35.This man, now re-ememployed at a neighbouring shipyard says,
:05:36. > :05:43.And as the economy slows, the authorities are increasingly
:05:44. > :05:52.At this building in Beijing, where those with grievances come
:05:53. > :05:54.to lodge complaints against the government,
:05:55. > :06:00.ranks of policemen keep a careful watch.
:06:01. > :06:04.This man said that they forced his factory to close but then
:06:05. > :06:12.Well if the parliamentary pomp and ceremony on display a little way
:06:13. > :06:15.up the road are meant to portray a sense of national unity,
:06:16. > :06:21.these scenes tell a different picture.
:06:22. > :06:24.One of repression that many people believe is growing increasingly
:06:25. > :06:28.heavy handed under the President, Xi Jinping.
:06:29. > :06:30.China's leaders have also announced more spending to keep growth
:06:31. > :06:43.China's leaders have also announced more spending to keep growth
:06:44. > :06:46.They make look confident but they know they are entering
:06:47. > :06:50.Media mogul Rupert Murdoch and his new wife, actress and model
:06:51. > :06:51.Jerry Hall, have had their marriage blessed
:06:52. > :06:54.at London's St Bride's Church, in Fleet Street this morning.
:06:55. > :06:56.The couple wed in a civil ceremony yesterday.
:06:57. > :06:58.Among the guests attending today were actor Sir Michael Caine,
:06:59. > :07:00.musicians Bill Wyman and Sir Bob Geldolf
:07:01. > :07:03.and Rebekah Brooks, CEO of News UK, the British division of Mr Murdoch's
:07:04. > :07:11.That's it for now - the next news on BBC One
:07:12. > :07:29.Hello. If you have been out this morning, you will know there is a
:07:30. > :07:35.bit of a chill in the air out there. More late winter than early spring.
:07:36. > :07:40.A weather watcher caught confused looking spring bulbs in the snow.
:07:41. > :07:41.In the south there is more likely rain in the