It seems to be the usual scare tactics to sell newspapers. Apparently the government is thinking of cutting the annual allowance. No quotes from anyone in government of course, and nothing concrete, just a lot of speculation.
There are two good reasons why I don't think that this will happen:
- They only just cut the allowance from £225,000 to £50,000
- The people most affected would be higher rate taxpayers, and most of them usually vote conservative. Hitting them in the pocket would be a great way to lose votes.