An expert at Abbey has announced that the company is "heartened" by the chancellor's renewed commitment to individual savings accounts.
Reza Attar-Zadeh, the bank's head of savings, commented in the wake of Gordon Brown's pre-Budget report.
"As one of the UK's leading suppliers of Isas [individual savings accounts], we are pleased that the government has guaranteed the long-term future of one of the most successful tax efficient savings vehicles ever launched," the expert remarked.
However, the analyst noted that the chancellor could do more to encourage people to use individual savings accounts by reviewing the £7,000 limit currently imposed.
Celeste Dias, senior product development manager at Threadneedle Investments, also welcomed the chancellor's announcement to extend individual savings accounts to 2010.
Ms Dias also suggested that the limit should to be raised to £10,000 and called for additional simplifications to the savings option.
Also commenting on the issue was Steve Latto, pensions development manager at Alliance Trust.
Mr Latto echoed the comments of the other experts and claimed that raising the investment limit would be a "win-win situation".
Expert welcomes savings news
Expert welcomes savings news
Thu, 07 Dec 2006
Recommended links
Savings comparison siteToday's top savings providers
Savings enquiry form
Savings accounts could soften Christmas, expert claims
Post Office boosts savings rate
<% Randomize: ord=int(rnd*1000000000) %>
 %>?)
| savings news |
|---|
| Skipton Building Society offers savers holiday vouchers - Fri, 29 Aug 2008 |
| Scarborough Building Society announces new guaranteed savings rates - Thu, 28 Aug 2008 |
| Saving rates reach 3.3 per cent - Thu, 21 Aug 2008 |
| More News |
