Government Launches Consultation on National Savings Gateway Scheme

In a welcome development, today's budget included an announcement that the Savings Gateway - a scheme whereby the Government adds to the savings of low income households - is to be rolled out nationally.

The scheme was originally proposed in 2001 and has been through extensive pilots which have tested qualifiying criteria and the level of Government contribution to the savings accounts. Today's announcement promises that the national scheme will be available from 2010 and is linked to a consultation exercise running between now and 4th June 2008.

The consultation document is available here:

http://www.hm-treasury.gov.uk/media/D/4/bud08_saving_340.pdf