ING Direct says public wants government to help savers

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ING Direct says public wants government to help savers

Wed 28th Apr 2010

Savers are looking to the government to improve the banking environment for them, so that they can put away more money and get a reasonable return on their capital, according to a sector commentator from ING Direct.

ING Direct chief executive officer Johan de Witt made his comments after Mintel released figures showing that the proportion of the country that is putting money aside has increased from 40 per cent to 47 per cent since August 2009.

He suggested that there does appear to be a culture change taking place, in which people are paying off their loans and debts, with the intention of saving in the future.

Mr de Witt cited a survey by ING Direct that saw 80 per cent of respondents stating that the government could do more to help people save.

"A particular vote winner, with 65 per cent support, would be the waiving of tax on savings for basic rate tax payers," added the company representative.

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