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PBR: Savings gateway to add 50% to lower income savings

Chancellor Alistair Darling has announced he will introduce a savings gateway for lower income earners in an effort to increase the rate of saving.

Darling said that for every £1 that lower income earners save, the Government will contribute an additional 50p.

He said this will be widely available and can be accessed through banks, building societies, credit unions and the post office.

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