Good news for savers – TISA reaction to Pre-Budget Report
TISA – the Tax Incentivised Savings Association – has welcomed the Chancellor’s announcement that the flagship Savings Gateway policy is to move ahead with the government contributing 50p for every £1 saved.
TISA Director General Tony Vine-Lott says:
“It’s vital that the less financially fortunate are given an impetus to save and the Savings Gateway announcement is a clear demonstration of the government’s intent to make this policy a success. We look forward to now working with The Treasury to finalise the option for making the matching work in practice.
“I am also pleased that the range of qualifying investments for an ISA is to be extended to include securities issued by Multilateral Development Institutions. We have been arguing for this and fully support its introduction.
“Financial education is another key element if the UK is to instill a savings habit into children. The Child Trust Fund is already an outstanding success. The confirmation that the National Money Week is to take place next Summer, coupled with the news that CTFs will be a focal point for financial awareness and math teaching in schools, will help ensure that the savings momentum from CTFs is increased.”
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For further information, please contact:
Tony Vine-Lott, Director General, TISA – Tel: 01372 374728, Mobile: 07790 006108
Email: tony.vine-lott@tisa.uk.com