Economics at your fingertips  

Closing the Savings Gap? The Role of the Saving Gateway

Sharon Collard () and Stephen McKay ()
Additional contact information
Sharon Collard: Personal Finance Research Centre, University of Bristol, University Road, Bristol BS8 1SS, UK

Local Economy, 2006, vol. 21, issue 1, 25-35

Abstract: The 2001 election manifesto committed Labour to introducing two innovative policies designed to increase savings and assets among future generations, and the low-income families of today. The Child Trust Fund aims to provide all children with an endowment of assets when they reach the age of 18. Child Trust Fund accounts became available in April 2005 to all children born from 1 September 2002. The Saving Gateway offers a new savings account for lower-income families, designed to encourage savings. The first Saving Gateway pilot took place between 2002 and 2004; a second, larger pilot is currently underway. This article outlines the key findings from the evaluation of the first Saving Gateway pilot.1 Overall, the results are positive—the scheme has encouraged participants to save, and to save regularly. In addition, it seems to have resulted in positive psychological and attitudinal changes among a significant proportion of participants.

Date: 2006
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in Local Economy from London South Bank University
Bibliographic data for series maintained by SAGE Publications ().

Page updated 2021-05-10
Handle: RePEc:sae:loceco:v:21:y:2006:i:1:p:25-35