Anyone heard about the new saving scheme thing the goverment are trying out. I just heard about it on the radio. It's for low income ppl who find it difficult to save for things like educational courses/house deposits etc.

The goverment plan to match every penny saved by ppl and add it to their account. So if someone saves 200 quid... they get given another 200 quid for nothing.

Now this seems like a good idea for folk who want to better themselves and raise their standard of living.

However, the 200 quid is coming from the everyday taxpayers and there is NO restriction on how the money is spent. From what i can gather, anyone who earns under 11k on their own , or, 15k per household qualifies.

Isn't is this just waiting to be abused?

Does it cover O.A.P's ?

Does it only cover home owners, or can gyppos double the money they have nicked?

fortunately i think it only covers people who actually have jobs though. ( no offence to OAPs :D )

Dont think you need to own a home though. They said one of the things the monet could be used for was for a morgage deposit.

[Edited by marty_t3 - 10/11/2002 1:54:12 PM]