UK Money News
7th March 2008
Savers 'need Budget help'
People still keen to save despite the difficult economic climate need help in next week's Budget, the Nationwide has said.
The high street lender is one of a number of banks and building societies looking to get customers saving in order to relieve its own liquidity problems.
With the credit crunch rippling through global markets, credit is still very difficult to obtain.
Nationwide believes that people will save given the right incentives and has called on Alistair Darling, the chancellor, to introduce some saver-friendly measures in his Budget statement.
"The Isa system has proved to be a success with over 16 million accounts in operation, but more can be done to encourage consumers to use their Isa allowance and embrace the tax-efficient benefits they bring," said Graham Beale, Nationwide's chief executive.
"And in order to build a savings habit in younger people, we would like to see Alistair Darling encourage more parents to contribute to their children’s trust funds and do away with the current tax inequality."
Time is running out for any savers keen to make use of this year's Isa allowance.
The end of the tax year and the Isa deadline is now less than a month away.
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