Saving Gateway Accounts Bill

The Minister’s response that the Government would like as much flexibility as possible was entirely predictable. However, in the context of a savings incentive, it is reasonable for the Government to accept that there should be some provision that restricts the power to something that looks like saving. Once you get beyond a 100 per cent match, which I hope the Government will never get to, it is not an incentive to save any more; it is some other kind of channel of money flowing to particular recipients. I am not convinced by the argument that unfettered flexibility is necessary to respond to the aims of the saving gateway scheme. It might be desirable for all kinds of other things, but not for the saving gateway scheme, because once you go beyond a pound you will be in ludicrous territory. If you had to induce someone to save by giving them pound for pound—or more than pound for pound, because my limit would allow you to go up to £1—you could not say that we were in the business of incentivising savings. I put the noble Lord on notice that I am not satisfied by his response in this instance and I will probably return to the issue on Report. For now, I beg leave to withdraw the amendment. Amendment 35 withdrawn. Clause 8 agreed.