Petition · past parliament · HM Treasury
Increase personal savings allowance
Closed
170 signatures
What the petition asks
Current limits are low and don't promote savings, specially for higher and additional rate tax payers. With the increased cost of living and inflation banks have increased savings rates but with the high taxation it defeats the purpose.
The Goverment should be doing their best to support the population in current times. With increased cost of living, inflation, savings become key product a large number of the population is dependent on to earn some interest.
Current accounts offer almost no interest and hence money sitting in accounts loses value due to inflation. Savings products are key and hence the limits should be increased.
Current accounts offer almost no interest and hence money sitting in accounts loses value due to inflation. Savings products are key and hence the limits should be increased.
Timeline
| 7 Aug 2023 | Petition opened for signatures |
| 7 Feb 2024 | Closed to new signatures |
Key facts
Signatures
170
Status
Closed
Department
HM Treasury
Opened
7 Aug 2023
Closed
7 Feb 2024
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Source: the official petition page. Last checked 15 Jul 2026.