Poll: Government must do more to promote saving

Tuesday, 06 April 2010 10:24

By myfinances.co.uk staff

The next government should introduce more incentives to encourage saving, according to a new poll.

Over half (52%) of people questioned by campaign group Save Our Savers (SOS) said that sweeteners such as extra tax breaks should be introduced to boost the amount of money put aside for a rainy day.

Another 22% felt that there should be more official promotion of the benefits and importance of saving.

SOS said that the start of the new tax year on April 6th marked "Black Tuesday" for savers after chancellor Alistair Darling's Budget "missed the opportunity to re-establish a strong savings culture".

"Today could and should have been a day of celebration for savers, but instead we've seen no signs from the government that they are committed to saving," said the group's founder Andrew Haldenby.

According to February's Savings Index from Nationwide, 19% of consumers thought that the economic situation made it a good time to be putting money aside, up three per cent from the previous month.

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