TISA: PBR is good news for savers

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TISA: PBR is good news for savers

The Tax Incentivised Savings Association (TISA) has welcomed the government's pre-Budget report, saying it will benefit savers.

According to TISA, the savings incentives announced by the chancellor yesterday, which will see the government contributing 50p for every pound saved in the savings gateway scheme, are vitally important in encouraging less financially fortunate people to save.

TISA director general Tony Vine-Lott said that his organisation is looking forward to working with the Treasury to make the savings gateway work in practice.

He also praised other policies put forward by Alistair Darling, saying: "I am also pleased that the range of qualifying investments for an individual savings account is to be extended to include securities issued by multilateral development institutions."

Mr Darling also announced further measures aimed at helping those who are less financially fortunate, including making the increase in income tax allowance permanent, effectively meaning that people in the lowest tax bracket will pay £145 less in tax next year.

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