Home > Loan news archive > Loans become an issue as personal savings grows in importance

Loans become an issue as personal savings grows in importance

22 April 2005

One of the UK's largest asset management organisations has called for personal savings to be placed higher on the election agenda.

F & C Asset Management has commented on a new report by Mintel, showing that 16 million adults, one in three of the UK adult population, are saving nothing towards their futures.

Among those who do save, only 44 per cent are putting aside more than £100 a month.

F&C have welcomed the "impeccable timing" of the report, claiming that it is vital that the major political parties stress the importance of personal savings to the electorate.

"Whilst the election has focussed on important issues such as the state of public services, tax and immigration, the poor health of the nation's personal savings is simply not getting the attention it deserves," said Jason Holland from F&C.

"Politicians of all parties need to match pro-savings rhetoric with concrete plans," Mr Holland added.

Both parties have recently addressed the issue of compulsory savings, with prime minister Tony Blair ruling out forcing people to save towards their future. As yet, however, none of the major political parties have put forward a comprehensive personal savings plan.