Saving Gateway Accounts Bill

Amendment 40 40: Before Clause 11, insert the following new Clause— "Report on effectiveness of Saving Gateway accounts (1) The Treasury shall appoint an independent person to carry out a review of the effectiveness of Saving Gateway accounts and to prepare a report as a result of that review. (2) The review shall consider in particular— (a) the take up of Saving Gateway accounts, (b) the extent to which Saving Gateway accounts resulted in regular savings both before and after the maturity of those accounts, (c) any barriers to the wide use of Saving Gateway accounts, (d) the provision of and need for financial education for Saving Gateway account holders, (e) any other matters which the independent reviewer considers relevant to a consideration of the effectiveness of Saving Gateway accounts. (3) A review must be carried out after the fourth anniversary of the issue of the first notice of eligibility under section 2 and the report following the review must be delivered to the Treasury before the fifth anniversary of that issue. (4) The Treasury shall lay the report received under this section before each House of Parliament and shall publish it in such manner as it thinks appropriate. (5) In this section "independent" means independent of the Treasury and of any providers of Saving Gateway accounts."