HC Deb 08 February 2002 vol 379 cc1202-3W
Mr. Flight

To ask the Chancellor of the Exchequer what assessment he has made of the impact which the abolition of advance corporation tax relief has had on the annual savings gap of £27 billion between what people need to save and what they actually save for their retirement outlined in FSA Consultation Paper 121, paragraph 3.54. [33957]

Mr. Andrew Smith

The Government recognise the importance to individuals of saving, including as a way of providing comfort in retirement. The Government's strategy for encouraging more people to save is set out in "Helping People to Save", published in November 2000. The Government monitor closely developments in the savings market.

Consumers should benefit from increased choice under the FSA proposals.

Back to