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Savings Gateway - Carers UK Forum

Savings Gateway

Discuss news stories and political issues that affect carers.
Carers UK hopeful that carers will be eligible for the Savings Gateway
05 February 2009

From 2010, there will be a new government supported cash saving scheme called the 'Saving Gateway' which will help people save by making a Government contribution for every pound saved. Carers UK is lobbying to ensure that carers can access the scheme. On 3rd February the issue was debated in Parliament.

From 2010, there will be a new government supported cash saving scheme called the 'Saving Gateway'. It is for people of working age who are on lower incomes to help kick-start a saving habit. The government will contribute 50 pence for each £1 saved into Saving Gateway accounts, making them an excellent way to build up savings.

People will qualify for an account if they get certain benefits. It is intended that savers will be able to pay up to £25 a month into your account for two years. At the end of the two years the government will make a contribution of 50 pence for each £1 they have saved. It is predicted that 8 million people will be eligible when the scheme begins.

The Bill is currently passing through the House of Commons and it will apply to the whole of the United Kingdom.

Carers UK’s major concern

We are extremely disappointed that Carer’s Allowance is not included in the list of eligible benefits and tax credits.

The list of benefits currently includes:

* Income Support;
* Employment and Support Allowance;
* Jobseeker's Allowance;
* Incapacity Benefit;
* Severe Disablement Allowance;
* Child tax credit
* Working tax credit

Whilst around 225,000 carers will qualify through Income Support, we believe that excluding Carer’s Allowance would be a missed opportunity and unfair.

Why should carers be included?

Read the full story in our new Parliamentary news section
Since when has the government become a credit union? This kind of small savings scheme is fine at local level, but the government would be seriously undermining the work of Credit Unions up and down the length of Britain.
£25 a month into your account for two years. At the end of the two years the government will make a contribution of 50 pence for each £1 they have saved. It is predicted that 8 million people will be eligible when the scheme begins.
That is a joke, surely? Saving a maximum of £600 in two years and thereby generating £300 in government top up - a grand total of £900 ? What difference will that make?

Why not bring back Green Shield stamps?
More to the point, people on benefits can be penalised for saving money.

Always assuming that they get enough benefits to be able to save anything!! Image

This sounds like a safe bet for a government: commit money you'll never have to spend anyway, and be able to say "well you obviously don't need an increase in benefits because you're saving money."

Win:win situation for the government.
and i suppose they will tax what ltle interest you get
That CUK should be spending funds on this campaign is an insult to me as a carer who lost a business, a home, and any chance of saving, many years ago.

At best , it shows that CUK have not been listening to carers who have been saying the choice is between heating or eating-how good of them to give us another choice-heating ,eating or saving!!!!
At worst it shows that CUK totally ignore the real needs of carers and are calling us liars when we tell them things really are as bad as we say.
Whoever thought this one up should be at Job centre plus next week claiming JSA, and get a taste of the real world.
That CUK should be spending funds on this campaign is an insult to me as a carer who lost a business, a home, and any chance of saving, many years ago..
No it isn't Ken. If you distrust Carers UK so much, what on earth are you doing here on their site?
That CUK should be spending funds on this campaign is an insult to me as a carer who lost a business, a home, and any chance of saving, many years ago.

At best , it shows that CUK have not been listening to carers who have been saying the choice is between heating or eating-how good of them to give us another choice-heating ,eating or saving!!!!
At worst it shows that CUK totally ignore the real needs of carers and are calling us liars when we tell them things really are as bad as we say.
Whoever thought this one up should be at Job centre plus next week claiming JSA, and get a taste of the real world.
Ken ]http://www.carersuk.org/images/icon_eek.gif[/img]

Just to give you all some more background to this. In terms of spending funding, we have spent no money on this "campaign". We have spent some staff time however (Kate our Senior Policy officer has been working on it for some of last week).

The background to this is that we were phoned by a carer, one of our members, who felt carers should be included on this bill. We looked at it and we agreed. So Kate has done a briefing and been talking to MP's.

The relative merits of the scheme are not really relevent. That's up to you to decide, whether you think it's a good thing or not. We looked at it and we felt that carers who get CA but are not on IS, should be at least have the choice to join the scheme, particularly as other benefits like JSA were included.

Matt
Matt

I'm sorry you feel my reaction was over the top- it was my gut reaction as soon as I saw your announcement.
There are so many things carers need to just exist, and I know in my own case--saving is a total impossibility.

Excalibur
I am on the site, as is my right, just like any other member, expressing my own opinion, in my own name.That this upsets you is hardly my concern, as the last time I looked at the rules of the site, this was not forbidden--if it was,I'm sure the moderators are perfectly capable of acting on it without your intervention.
saving is a total impossibility.
I think not only will quite a few agree with you Ken but they will also be in same postion of not being able to save.For me though, I think carers should at least have the option and be included in the scheme.Once again carers are penalised when in fact they receive one of the lowest paying benefits.
I spoke to a few old ladies in town a few weeks ago about this and they were angry at not being included.Their reason being they try spread the cost for Christmas over the year by buying Morrisons stamps approx £2 per week when able.Under this scheme they would get a better return on their savings albeit it a small amount.
Whether any of us here could/would use something like this,the fact remains we should be included.

Hope all is still going well Ken.

Rosemary
x x
Matt

I'm sorry you feel my reaction was over the top- it was my gut reaction as soon as I saw your announcement. There are so many things carers need to just exist, and I know in my own case--saving is a total impossibility.

Excalibur
I am on the site, as is my right, just like any other member, expressing my own opinion, in my own name.That this upsets you is hardly my concern, as the last time I looked at the rules of the site, this was not forbidden--if it was,I'm sure the moderators are perfectly capable of acting on it without your intervention.
I'm a working carer as are at least half of the UK's carers, and I am in a position to save money. So I don't want you speaking on my behalf as if your views were typical, Ken, thank you. I don't mind your expressing your views in the least, but I do object to the kind of intemperate language that you resorted to. Any complaints of poor performance or attitude directed against our paid staff should be directed to our elected Chair,Don Brereton , who is himself a working carer.