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Volume 470: debated on Thursday 24 January 2008

14. To ask the Chancellor of the Exchequer what steps the Government is taking to encourage people to save. (181423)

Since 1997, the Government have introduced individual savings accounts (ISAs) (now held by one in three adults), and the child trust fund, which will ensure that all children will hold a financial asset at the age of 18. The Government have piloted the saving gateway and is now taking forward feasibility work to enable rollout.

The Government are also introducing personal accounts to enable individuals on low to medium incomes to save for a pension over their working lives.