Mark Pawsey MP has welcomed dramatic new help announced in the Budget for savers. The Chancellor announced a number of measures to help those saving for their future. Among them, cash ISA and stocks and shares ISAs have been merged into a single new ISA, with an annual limit of £15,000, which is set to benefit the more than half a million ISA holders in the West Midlands.
Speaking after the Budget, Mark Pawsey MP said:
‘I am pleased that today the Government has moved to support savers, because that means support for people’s futures. Whether someone is saving towards a house, for their family or towards their retirement, these measures make that easier and more rewarding. This Government is helping people to save more and secure their future.’
Mark commented:
‘Moves to reform pensions, creating a more flexible and accessible system, will be welcomed by many people. This Government has a long-term economic plan, and that includes making sure that people have a substantial and flexible pension when they retire. Rugby has a higher proportion of pensioners than many constituencies, and it is very important that we support those people who have made provision for their retirement.’
Mark concluded:
‘It has been a hard time for savers in recent years, and this Government is helping them out. These radical changes will help boost economic security for people in Rugby who work hard and save hard. They show that the Conservative Party is making the long-term decisions that will support people in the town for many years to come."