New research published by the government demonstrates that individual savings accounts (Isas) are appealing to consumers, it has been claimed.
The Tax Incentivised Savings Association stated that the study by HM Revenue and Customs showed that such savings accounts are the fourth most popular savings vehicle after current accounts, cash deposit savings accounts and property .
Tony Vine-Lott, director of the association, said that the survey confirmed many of the organisation assertions about individual savings accounts, stating that they are becoming "increasingly popular" and "really appeal" to savers.
"They are well known, allow savings for a multitude of purposes while allowing flexibility that many consumers find useful, and are increasingly fulfilling a long-term savings need," he commented.
Earlier this week, economic secretary to the Treasury Kitty Ussher announced that the government would be implementing new reforms to "build on the success" of these types of savings accounts next year.
Isas are "popular savings vehicle"
Isas are "popular savings vehicle"
Wed, 12 Dec 2007
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