§ Dr. CableTo ask the Chancellor of the Exchequer what assessment he has made of the impact of the Saving Gateway proposal on credit unions. [34351]
§ Mr. Andrew SmithThe Government set out their latest proposals for the Saving Gateway in "Delivering Saving and Assets", published in November 2001. The Government announced their intention to pilot the Saving Gateway in a number of locations, to understand better how the Saving Gateway might work in practice. Many decisions about the operation of the Saving Gateway remain to be taken, so it is not possible to say how it might affect credit unions, although credit unions might be expected to benefit from an increase in awareness and understanding of the benefits of saving. A number of1206W credit unions have expressed an interest in being involved in elements of the Saving Gateway, including financial education.
The Government welcome the continued involvement of all interested parties, including credit unions, in the development of the proposals for the Saving Gateway, including responses to "Delivering Saving and Assets for All".