Petition Increase personal savings allowance

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.

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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.

This petition is closed This petition ran for 6 months

170 signatures

Progress of the petition towards its next target: 170 of 10,000 signatures required to get a government response

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10,000 signatures required to get a government response

Date closed 7 February 2024
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