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Labour conference – Tories blast means testing at fringe event

Shadow Financial Secretary George Osborne is blaming the Government&#39s means tested benefits policy for a steady decline in saving.

Speaking at a fringe event at the Labour party conference in Brighton he said the crucial answer to addressing the savings gap is tackling the spread of means tested benefits. Osborne blamed the Government policy as the unwitting cause of a steady decline in savings, he added that the introduction of means testing had clouded the savings issue for those that had once had a clear incentive to save.

He said: “It is universally accepted by my party, by the Liberal Democrats and by the industry, by everyone apart from the Government that this is a failed policy.The people selling products face a huge dilemma, over what advice to give people.”

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