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Chancellor urged to reach out to savers

Alistair Darling has been urged to use tomorrow's Budget to reach out to a new group of savers.

The Tax Incentivised Savings Association (TISA) said there are many people still not taking advantage of government initiatives.

TISA director-general Tony Vine-Lott said schemes like the Saving Gateway would help get inactive people saving.

"Building on the mass market success of Isas and child trust funds held by over 20 million people, we believe that the Saving Gateway is the logical next step," he said.

"By targeting those who aren't saving and providing new, simple incentives, we believe that we can realise nearly two million new savers."

One of the effects of the credit crunch has been to encourage lenders to offer attractive rates to savers in a bid to build up capital.

This means there are some tempting deals available to those who are saving.

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