The Government believes that saving and asset ownership are an important complement to the three main pillars of its welfare strategy: work and skills, income, and public services. Regular saving provides individuals with a pool of financial assets for times of adversity, or for planning for retirement, or to enhance long-term independence and opportunity. The Government has done much to extend the benefits of saving and asset-ownership, through Individual Savings Accounts, Stakeholder Pensions, and the Pension Credit. But there is strong evidence to suggest households on lower incomes are not saving enough for themselves, or their children, to enjoy the benefits and opportunities of asset ownership. The Government also wants to ensure that all children grow up knowing that they have a financial stake in society. All young people should be able to embark on their adult lives with a financial asset to invest in their future. This paper presents options for policies designed to increase rates of saving and asset-ownership, both among the lower-income households of today, and in generations of families to come.
The Saving and Assets for All consultation document is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.
For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.