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Models houses on a pile of coins and bank notes
GOVERNMENT incentives to help people save need a shake-up so families can build resilience against financial shocks, a leading think tank urged today.
The Resolution Foundation warned that low to middle-income households struggle to build up cash reserves, with adults in the bottom half of income distribution typically having just £3,000 in savings each.
Savings allowances and Isas are progressive, its report said, with basic-rate taxpayers able to earn up to £1,000 in savings interest untaxed, compared with £500 for their higher-rate peers.
Campaigners urge government to ignore profiteering oil lobbyists and help those hit hardest by rising energy prices
Plans to delay access to the universal credit health element until age 22 have triggered fierce opposition from disabled people’s groups, who warn it would deepen poverty and entrench discrimination against young disabled people under the guise of ‘encouraging work.’ DYLAN MURPHY reports
