Support saving and debt management, group urges
Support saving and debt management, group urges
Tuesday 26th January 2010
The Save our Savers group has been formed in response to what it believes is a lack of government encouragement and support for people making a commitment to saving.
It is urging policymakers to give savers a fair deal, by way of simplifying rules surrounding pensions and investments, and protecting savers from extreme rate shocks.
Worthwhile tax breaks, and an economy that makes it worthwhile for savers to invest in, are also on the group's agenda.
According to research conducted by the group, nearly half of British adults are looking to current or future governments to do more to incentivise saving.
Save our Savers spokesman, the Reverend John Strain, said savers have been "far off the political radar for decades now", resulting in a lack of public trust in the policymakers.
"Anyone would think the government doesn’t want people to provide for themselves, doesn't need enterprise built upon the nation's savings, and would rather we all borrowed and spend our way into old age dependency," he added.
The group has launched an online campaign using Facebook and Twitter sites.
Financial and business commentator Jasmine Birtles recently advised people to move away from borrowing and make a commitment to saving.
People have been spending money "like there is no tomorrow", said Ms Birtles, and the next decade should be a much more sober one with the idea of saving in order to spend making a comeback.
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