PERSONAL SAVINGS IN THE UNITED KINGDOM

That this House notes that the long-term financial future of the United Kingdom will be much more secure as personal savings increase; calls on the Government and financial institutions to review their commitment to this long-term goal; condemns reports of some banks which are paying as little as 0.1 per cent. interest on individual savings accounts, meaning that an individual putting aside £3,000 would receive the pitiful sum of £3 per year in interest; and further calls on the Chancellor to produce an imaginitive proposal in the Budget to promote tax efficient personal savings.