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Govt targets low paid with ‘help to save’ initiative

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The Government is to launch a ‘help to save’ programme for people on low incomes designed to enable them to build up a “rainy day” fund.

In a wide-ranging speech on boosting life chances focused on the poorest in society, Prime Minister David Cameron confirmed a new programme will be unveiled later this year to encourage the low paid to save.

He said: “We’ll also to do more to help people save – and help build families’ financial resilience. Those with no savings at all have no buffer – no shock absorber – for when unexpected events hit.

“Saving is a habit that should start early – so we are going to expand the Church of England’s LifeSavers project which helps primary schoolchildren to manage money and learn how to save and we will look at what more we can be done on this vital area.

“So I can announce today that we intend to bring forward a ‘help to save’ scheme to encourage those on low incomes to build up a rainy day fund, and full details of this scheme will be announced at the Budget.”

The Government’s flagship savings initiative, automatic enrolment, has boosted the number of people saving in the UK since it was launched in 2012. However, only people earning more than £10,000 qualify.

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. So Dave thinks that the reason that people have no money is because the Government hasn’t encouraged them to save a rainy day fund?

    And idiots vote for this moron…

  2. Priceless !!!

  3. What a plonker. If these people had any surplus surely the first thing they would want to do is to REDUCE THEIRT DEBT.

    My mantra at the last election yet again proves its validity.

    The choice was between syphilis and gonorrhoea. We’re all poxed now.

  4. Strange days, go to the bank for food, the supermarket for insurance, Westminster for savings and the Citizens Advice for a pension update. Can you please make my employer or little sister send me to Spain for a holiday Dave?

  5. @ Steven Balmer – brilliant!

  6. David Cameron is anything but stupid. I don’t know how he could be such a moron to come off with this garbage. These people are often up to their eyes in debt, try helping them pay that down first.
    As Paul Barnard says of Steve Balmer, brilliant indeed

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