The slip-up appeared to mark a change of policy for the Labour Party, which has only previously said it would cut pensions tax relief for those earning over £130,000 from April 2011, however a party spokeswoman has confirmed that Brown made a mistake and that the stated policy in the Labour manifesto still stands.
Many in the industry expressed concern after the initial Budget tax relief announcement last year that Labour would look to catch more earners with restrictions further down the line.
Speaking in the debate on the BBC yesterday, Brown said: “Our four-year deficit reduction plans include a rise in the top rate of tax above £100,000, taking away pension tax reliefs for those above £100,000 at a higher rate and a National Insurance rise.”
Hargreaves Landsdown head of pensions research Tom McPhail says: “You could take this one of two ways – you could argue it was an innocent mistake or he may have even mixed up the personal tax allowance limit.
“Or it may be that the gaffe happened because conversations have been taking place and it is on his mind. He does have form when it comes to pension tax hikes.”