Daily Insurance Industry News
Daily Insurance Industry News
Tuesday 21st of May 2019
March 22, 2010

ABI makes Budget savings plea

by Richard Kilner

Story link: ABI makes Budget savings plea

The ABI (Association of British Insurers) has urged Chancellor Alistair Darling not to do anything in the Budget that damages savers.

The call comes after research commissioned by the ABI shows that over half of Britons have lost faith in the benefits of saving over the course of the last year.

Recently, changes to higher rate tax relief for pension contributions and capital gains tax have hit savers hard.

Savers were already doing poorly from the record low interest rate of 0.5%, which has now been in place for a year.

The ABI has also called for British companies to be supported by not taxing income made in foreign branches.

Director General Kerrie Kelly has said that whilst the UK economy has come through the recession robustly an uncompetitive tax system could harm the sector.

Kelly has urged the Chancellor to help keep firms based in Britain by allaying fears of taxation on income made overseas.


News posted:

Related stories to ABI makes Budget savings plea: