Commenting in the wake of yesterday's Budget announcements, deputy director of the Association of Independent Financial Advisors Fay Goddard described the document as "missed opportunity".
According to the expert, Mr Darling's pre-Budget report did not contain any new policies that would encourage Britons to make additional savings. This is despite a savings ration that has tumbled to its lowest point in 47 years, she claimed.
"We need to move from a spend to a save culture. The chancellor should have been looking at measures to encourage savings and ensure debt is manageable," remarked Ms Goddard.
However, she described the chancellor's seeming willingness to take action on inheritance tax as "helpful". But again she questioned the validity of his proposals, stating that further analysis is needed.
Mr Darling may have felt extra pressure regarding this tax from shadow chancellor George Osborne, who pledged a bolder move to remove the levy of inheritance tax for all estates under £1 million in value.
© Adfero Ltd
