Clause 8
6:00 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
I thank the Economic Secretary for his response. It is interesting to understand how the match rate incentivises people and the point at which the level of the match rate ceases to act as an incentive to people to save more. The fact that the pilots have confirmed that 50p is as effective in encouraging saving as £1 is useful evidence. That means that the cost to the Exchequer of introducing the measure will be less, and demonstrates that even at that lower cost, we still hope to have an effective result.