FLAGGING NOT FLAGSHIP - TIME TO FORGE AHEAD

WITH A COHERENT LONG-TERM SAVINGS POLICY

Reacting to yesterday’s debate in Parliament on amendments to the Finance Bill designed to maintain current ISA limits, Richard Saunders, Chief Executive of IMA commented:

“The Government has today confirmed that the erosion of ISA benefits will continue. This is disappointing and underlines the need for new and creative thinking on future policy towards medium and long-term savings.

“The introduction of the stakeholder suite of products will not solve the problems. The IMA has published its own ideas and stands ready to work with Government on fresh solutions.”

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For further information, please contact:

Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Out of hours contact:

Mona Patel, Head of Communications, IMA, 07834 089332

Notes to Editors:

IMA’s own ideas were put forward in its submissions to the Treasury Select Committee’s inquiry “Restoring confidence in long-term savings” and the follow-up submission.

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Investment Management Association is a company limited by guarantee registered in England and Wales Registered number 4343737.  Registered office as above.