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Savings Gateway Scheme

Volume 455: debated on Thursday 25 January 2007

To ask the Chancellor of the Exchequer what percentage of those who began saving with the Savings Gateway Scheme completed the scheme and were given the bonus in each year since its launch. (117248)

In the first Saving Gateway pilot, 1,478 accounts were opened. The final evaluation report, published alongside Budget 2005, confirms that matching can encourage genuinely new savers and new saving. Overall, over half of the participants achieved the maximum match of £375 and 41 per cent. of participants were still saving three or more months after the pilot finished.