LV= calls for government to promote benefits of saving

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LV= calls for government to promote benefits of saving

Fri 18th Jun 2010

The government must support proposals that stimulate a long-term savings culture in Britain, it has been claimed.

Ray Chinn, head of pensions at financial services group LV=, said it is important that the chancellor uses next week's Budget to encourage people to consider their long-term position.

"Right now people don't trust that the government will support them; for instance nearly four times as many over-50s are expecting to be worse off under the coalition than those that expect their financial position to improve," he explained.

The Budget will be an opportunity for the government to renew interest in pensions and savings, Mr Chinn added.

Meanwhile, the National Association of Estate Agents has called on the chancellor to use his first Budget to help stimulate the housing market.

The organisation is urging policymakers to introduce fiscal incentives to encourage more first-time buyers to get on to the property ladder.

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