Class war at the savings bank: how Labour is hammering the middle classes
Article Abstract:
The UK government believes that its new Individual Savings Account (ISA) scheme will make a significant contribution to encouraging saving among people who have previously been deterred by savings products requiring large minimum investments or a commitment to save for a long time. The annual savings limit for ISAs will be 5,000 pounds sterling, with a total ceiling of 50,000 pounds sterling. Some observers believe that the shift away from Personal Equity Plans and tax-exempt savings accounts will have a negative impact on middle-class savers who wish to save more than 5,000 pounds sterling a year.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Glittering image turns dull
Article Abstract:
The number of gold credit cards in use in the UK reached more than 2.5 million in 1996, from less than 800,000 in 1993. Many credit card issuers are finding it hard to cope with fierce competition in the standard credit card sector, so are turning to the gold card sector, which is less competitive. There are now 24 issuers of gold credit cards, with most setting a minimum earnings limit of 20,000 pounds sterling. Gold cards were initially attractive because they had a lower interest rate than standard credit cards, but this is no longer the case.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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ISAs won't encourage more people to save
Article Abstract:
The UK's government's planned tax-free Individual Savings Accounts (ISAs) will probably not play a key role in creating a savings culture. These accounts, which will be available from Apr 1999, will offer a 10% tax credit on dividends from UK equities for the first five years, and will allow a maximum investment of 5,000 pounds sterling in a single year, up to a total of 50,000 pounds sterling. They will offer very little return for the least well off, who will probably not be able to afford to save very much in any case.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
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