HC Deb 05 November 2002 vol 392 c222W
Mr. Stephen O'Brien

To ask the Chancellor of the Exchequer what steps his Department is taking to increase the level of saving in the UK economy. [79095]

Ruth Kelly

The Government recognise the importance of saving and asset ownership in providing individuals with security, comfort in retirement and long-term independence and opportunity. The Government is implementing a saving strategy focusing on three central strandscreating the right environment for saving by maintaining macroeconomic stability ad establishing a well regulated and efficient market in financial services; creating the right incentives for saving by ensuring that the tax and benefit system does not unfairly penalise savers and by assisting those on lower incomes; and ensuring that people have the information and financial literacy they need to make the right saving choices. Statements on the progress of specific policies will be provided in the pre-Budget report.