The Minister has forgotten to mention that both the child trust fund and the saving gateway were specifically targeted at lower-income groups, many of whom—perhaps most of whom—do not pay tax. All the evidence suggests that in order to incentivise people, you have to either provide them with an asset or match their savings pound for pound.
Savings Accounts and Health in Pregnancy Grant Bill
Proceeding contribution from
Andrew Love
(Labour)
in the House of Commons on Tuesday, 26 October 2010.
It occurred during Debate on bills on Savings Accounts and Health in Pregnancy Grant Bill.
Type
Proceeding contribution
Reference
517 c212 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2023-12-15 13:33:22 +0000
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