Government urged to restore tax breaks

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Government urged to restore tax breaks

Restoring pensions tax breaks and increasing financial education are the best means of boosting the UK's savings culture, according to new research.

A study by the Association of Investment Trust Companies (AITC) suggests that the maintenance of current ISA benefits is not the answer.

When asked what would be the best way for the government to promote the savings culture, 32 per cent of active investors called for the tax credit dividend on pension funds to be reintroduced.

Twenty-seven per cent of active investors called for an increase in financial education.

AITC spokesperson Gemma Jackson said: "If we are to encourage finance education in the UK, it's best to start in schools.

"We've long been active in calling for financial education to be included on the national curriculum, as well as supporting the Personal Finance Education Group, which is enjoying success helping teachers teach personal finance."

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