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Calls for saving scheme to be extended

March 12, 2008 by admin  
Filed under News, News-Banking

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The expansion of a government scheme for matching the amount of money saved by lower-income Britons could provide a real boost to the nation’s savings, it has been claimed.

The Tax Incentivised Savings Association (TISA) said that the Saving Gateway initiative, which was introduced to encourage saving in households that are not engaged with mainstream financial services, could provide valuable incentives if it is rolled out on a national level.

Tony Vine-Lott, director general of TISA, said that Saving Gateway is “the next logical step” on a path begun by individual savings accounts and child trust funds.

“By targeting those who aren’t saving and providing new, simple incentives, we believe that we can realise nearly two million new savers,” he commented.

TISA said that it has been taking “a leading role” to help the government create and trial the scheme.

The government began piloting Saving Gateway in 2001.

Tags: Lisp, saving, child, mainstream financial services, logical step

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