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PBR: A “badly missed opportunity,” says ABI’s Haddrill

The Association of British Insurers has slammed today’s pre-Budget report as a “badly missed opportunity” for the UK Government.

ABI director general Stephen Haddrill says the Chancellor’s failure to encourage savings in today’s PBR means the UK is no nearer to tackling the country’s savings crisis.

Haddrill says: “After a decade of promoting consumption the Government is unable to break the habit. The crisis is built on debt and credit but the Government has still failed to recognise the importance of savings to our economic health.

“This is a badly missed opportunity to promote savings and tackle the country’s savings crisis – with 50 oer cent of the working population not saving enough for retirement, and saving overall at the lowest level for 50 years, action is needed now.

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