Skip to main content

Savings Gateway

Volume 404: debated on Tuesday 6 May 2003

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Chancellor of the Exchequer whether the savings gateway is open to anyone living in the pilot areas who is entitled to the new child tax credit; and if he will make a statement on eligibility, with particular reference to how the measure of income used in determining the level of a tax credit is defined. [110898]

Eligibility to participate in the Saving Gateway pilots is not determined by entitlement to the new child tax credit and is therefore unaffected by the measurement of income used in determining the level of child tax credit. Eligibility for a pilot Saving Gateway account is dependent on individuals of working age satisfying one of the following conditions:

Household earnings of less than £15,000 if an individual has children or a disability.
Individual earnings of less than £11,000 if an individual does not have children or a disability.
Individual is out of work and receiving benefits.
Further development of the Saving Gateway will be made in light of evaluation evidence.

To ask the Chancellor of the Exchequer how many Savings Gateway accounts have been opened in each of the five pilot areas. [110901]

At the end of April 2003, 835 Savings Gateway accounts had been opened with savings of almost £60,000. The following table shows how many accounts have been opened in each pilot area.

Pilot AreaNumber of accounts
Cambridgeshire115
Cumbria148
Gorton97
Hull231
Tower Hamlets244