People looking to open a new savings account could be set for a boost with the announcement that the government is to introduce new legislation on the matter.
Prime minister Gordon Brown has announced that a savings gateway bill will be introduced in the Queen's Speech.
A savings gateway consultation was launched in the March budget and the Tax Incentivised Savings Association will deliver its submission on the matter before the legislation is drawn up.
Tony Vine-Lott, director-general of the organisation, explained that such proposals will include making the savings gateway a feeder system for individual savings accounts, or other tax incentivised savings schemes.
He said: "We believe the savings gateway will encourage a whole new generation to get the savings habit and we are looking forward to working with HM Treasury on the detail of the bill."
Earlier this week, National Savings and Investments announced that it has launched a website aimed at helping people better manage their finances .
Government proposes savings gateway bill
Government proposes savings gateway bill
Thu, 15 May 2008
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