Wondered what others thought of this ... http://www.bbc.com/news/busine...

Some headlines...

The system, offering a 50% government top-up, will eventually be available to those receiving working tax credits and some on Universal Credit ... Over time they can save a total of £2,400 and get bonuses of up to £1,200. The idea is to encourage people to be prepared for financial shocks, such as a broken boiler or car.

A think tank (at the University of Birmingham) ... recommended that the government invest more in the Help to Save scheme by reducing some of the tax breaks offered to those who can save more in Individual Savings Accounts (Isas).

I don't know anybody who receives tax credits or universal credit (I'm not actually certain what they are) but I am sure the vast majority cannot save and the rest just don't care or want to (or if they do they'll be stuffing cash under the mattress - That way the government can't say, hey you've got £2,000 in the bank, we're cutting your benefits). What sort of a scheme is this? What's the government going to do next? A Christmas Club for those on Tax Credit? Can't imagine the bureaucracy that will be involved here but it just sounds like a crazy waste of money (the money of those who pay taxes), which brings me to another point. Why shouldn't it be available to everyone including those who do not claim benefits? Have we done something wrong to deserve the discrimination? I wouldn't mind an extra £1,200 for an investment of £2,400 - Why does someone on benefits deserve this preferential treatment?

And then, for a university think tank to come up with another bright idea - Consider disincentivising those of us who do save (and invest in the economy via our share purchases)!

The joy of governments and university think tanks!

Sorry about the rant - It did anger me somewhat.

Wonder what our "think tank" can come up with...

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