Simon Healy, Managing Director for Savings at Aldermore said:
"I welcome the measures to help savers, particularly for those on low incomes or who rely on the interest on their savings, this is something we should embrace. Making savings less complicated and allowing people to keep more or all of their interest is a good thing, especially in a low rate environment. The decision to introduce a new Personal Savings Allowance and allowing people to withdraw and replace money from their cash ISAs will give individuals more control of their budgets.
"The most interesting announcement is on the Help to Buy ISA for first time buyers. Savers are far more successful when they have a goal in mind, such as saving towards buying their first home. This new ISA will hopefully have the double benefit of encouraging a healthy savings habit, but also allowing people to achieve that goal more quickly.
"This is something we will be looking at closely."
For further enquiries, journalists can contact:
Adam Taylor, Cicero Group
Phone: 020 7297 5971
Mobile: 07557 0242 823
Notes to Editors:
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