✓ Passed into LawLords
UK Parliament · Bill
Saving Gateway Accounts Act
Summary
The Saving Gateway Accounts Act creates special savings accounts for low-income UK citizens where the government matches their savings with bonus money. It's designed to encourage people on lower incomes to save money by rewarding them with extra cash from the government when they put money aside.
A vote to support means
- —Supporting this Act means helping people save money by giving them a government bonus. For every £1 a low-income person saves in a special account, the government adds extra money (usually 50p), which encourages people to build up emergency savings and improve their financial security.
A vote to oppose means
- —Critics worry about the cost to taxpayers and whether the scheme actually helps people save long-term or if they just spend the bonus money. Some argue the government should focus on addressing poverty itself rather than offering bonuses to savers.
Cast Your Vote
People's Vote0 votes
0% Support · 00% Oppose · 0
Bill Passage
Commons
- 1st reading4 Dec 2008
- 2nd reading13 Jan 2009
- Committee stage27 Jan 2009
- Report stage25 Feb 2009
- 3rd reading25 Feb 2009
Lords
- 1st reading26 Feb 2009
- 2nd reading17 Mar 2009
- Committee stage2 Apr 2009
- Report stage10 Jun 2009
- 3rd reading17 Jun 2009
Royal Assent2 Jul 2009
Full Bill Description(click to expand)
No description available