Personal Saving

Part of Oral Answers to Questions — Treasury – in the House of Commons at 2:30 pm on 16 November 2010.

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Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury 2:30, 16 November 2010

The Government want to build a savings culture based on the principles of freedom, fairness and responsibility, and we are committed to creating conditions for higher saving. We have already announced a number of measures, including the annual financial health check and an end to the effective requirement to purchase an annuity with tax relief pension savings at the age of 75. We will also increase the amount that can be paid into ISAs each year in line with inflation from April 2011.