More bribary!!! 50% saving accounts for dole-scum.
Discussion
Haven't seen this discussed yet. Its a real piss-boiler.
Of course, this being Labour, there is a catch...
Its getting to the point where i'd damned near be better off if I just jacked in working and lived off the state. Free house, free money, saving topped up. No wories, just stay in bed. Watch some daytime telly.
I'm sure this will make you all feel much better about your crappy 1.0%apr (minus tax don't forget) account.
f
k sake!
DirectGov said:
From July 2010, there will be a new government supported cash saving scheme called the 'Saving Gateway'. It's for people of working age who are on lower incomes, and aims to help kick-start a saving habit. The government will add 50 pence for each £1 saved into Saving Gateway accounts.
Sounds good right? Get people to save?Of course, this being Labour, there is a catch...
DirectGov said:
You can open a Saving Gateway account if you get any of the following:
* Income Support
* Jobseeker's Allowance
* Incapacity Benefit
* Employment Support Allowance
* Severe Disablement Allowance
* Carer's Allowance - you must be getting the allowance not just have an entitlement
* tax credits - but only if the final award for the 2009-10 tax year was based on a household income of less than £16,040
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Ma...* Income Support
* Jobseeker's Allowance
* Incapacity Benefit
* Employment Support Allowance
* Severe Disablement Allowance
* Carer's Allowance - you must be getting the allowance not just have an entitlement
* tax credits - but only if the final award for the 2009-10 tax year was based on a household income of less than £16,040
Its getting to the point where i'd damned near be better off if I just jacked in working and lived off the state. Free house, free money, saving topped up. No wories, just stay in bed. Watch some daytime telly.
I'm sure this will make you all feel much better about your crappy 1.0%apr (minus tax don't forget) account.
f
k sake!Here, maybe this is more your thing?
http://www.telegraph.co.uk/health/healthnews/51450...
Or perhaps...
http://www.lep.co.uk/weirdnews/Pregnant-women-paid...
http://www.telegraph.co.uk/health/healthnews/51450...
Or perhaps...
http://www.lep.co.uk/weirdnews/Pregnant-women-paid...
Edited by ShadownINja on Thursday 8th April 20:44
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
So, silly thought, set up a website offering 10% of the interest to the account holder for the little matter of you contributing the £25 a month. You walk away with x times £400. Small matter of trust, but not insuperable. Be interesting to see if they run fraud analysis across the account providers.
gamefreaks said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
but to get £150 a year at the current 'savings accounts' rates of, say 0.50% you need to have scrimped together £30,000! 50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Not the point of your post, I know...
Merlot said:
gamefreaks said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
Maxf said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
but to get £150 a year at the current 'savings accounts' rates of, say 0.50% you need to have scrimped together £30,000! 50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Not the point of your post, I know...
Olivera said:
Merlot said:
gamefreaks said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
For the record, I think this saving scheme sucks and can't stand this constant pandering to the underclass.
Maxf said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
but to get £150 a year at the current 'savings accounts' rates of, say 0.50% you need to have scrimped together £30,000! 50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Not the point of your post, I know...
Merlot said:
Maxf said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
but to get £150 a year at the current 'savings accounts' rates of, say 0.50% you need to have scrimped together £30,000! 50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Not the point of your post, I know...
Maxf said:
Merlot said:
Maxf said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
but to get £150 a year at the current 'savings accounts' rates of, say 0.50% you need to have scrimped together £30,000! 50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Not the point of your post, I know...
Otherwise:
4.75% Nationwide Fixed Term
4.1% Lloyds TSB Fixed Term Bond (2 Years)
3.5% Halifax ISA
gamefreaks said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
Pothole said:
gamefreaks said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
My point has been that this plan will offer a maximum of £300 per person. Most will not take part in this plan, and for those that do many will not pay in £25 a month, and therefore won't get close to the £300.
As a hard-working person who saves at standard bank rates, I don't like it. However, compared with most of the ideas this Government has come up with (Free laptops and Internet access for scroungers etc) it's not as costly.
If there was no limit on the amount that could be saved, that would be an entirely different matter!
Merlot said:
My point has been that this plan will offer a maximum of £300 per person.
Hardly the point - the amount shouldnt come into it, just the % return, which is significant.Oh - just checked out those building society accounts you quoted and they all seemed to have problems in some form or another (regular savings only, fixed bonds, only applicable for families etc). Am I missing something? Genuine question - getting shag % all on my rainy day money.
Pothole said:
gamefreaks said:
Merlot said:
Whilst I don't like it, it's not as bad as it first seems.
50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
Its not so much the total amount, its more the principle.50% after two years, and for a max of just £25 a month, or £300 max 'interest' per person.
The rest of us are being shafted good and propper by low interest rates and banks.
All the low interest rates are doing is keeping house prices artificially inflated so the amount you need to borrow in the first place is bigger.
Maxf said:
Merlot said:
My point has been that this plan will offer a maximum of £300 per person.
Hardly the point - the amount shouldnt come into it, just the % return, which is significant.Oh - just checked out those building society accounts you quoted and they all seemed to have problems in some form or another (regular savings only, fixed bonds, only applicable for families etc). Am I missing something? Genuine question - getting shag % all on my rainy day money.
However, the Government offering is a two year fixed regular saver equivalent, so to compare with an Instant Saver would be like comparing apples and oranges
. The 3.5% ISA is a straight forward one, though.
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