Savings

Treasury written question – answered on 1st March 2005.

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Photo of Mr Howard Flight Mr Howard Flight Special Envoy To the City of London, Economic Affairs, Deputy Chair, Conservative Party

To ask the Chancellor of the Exchequer what estimate he has made of the cost of the SavingsGateway in each of the first five years after itslaunch.

Photo of Stephen Timms Stephen Timms The Financial Secretary to the Treasury

In the pre-Budget report the Chancellor announced the launch of the larger Saving Gateway pilot for 2005. Evidence gathered through this pilot will be used to evaluate the future role matching could play in Government support for savings, both for those on low incomes and more generally. The new pilot will cost £15 million and all accounts opened will last for 18 months.

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