Nationwide: Savings should be addressed in the Budget

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Nationwide: Savings should be addressed in the Budget

Mon 3rd Mar 2008

As Britain waits for the Budget to be announced by Chancellor Alistair Darling, Nationwide has called for a prioritisation of savings initiatives.

Nationwide is asking for changes to be made to individual savings accounts (Isas), including the introduction of a withdrawal buffer to help those on low incomes, cash and stocks and shares limits to be equalised and Isa subscription limits to be linked to inflation.

In addition, the building society has asked for the tax exemption thresholds for interest earned on child trust funds to be increased.

Nationwide chief executive Graham Beale said that if the government takes its suggestion, a "real difference" could be made to Britons' wealth.

"We hope the chancellor takes this opportunity to make clear his commitment to saving by making it a priority," he added.

Mr Darling will make his Budget statement on March 12th 2008 at 12:30 GMT.

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