IMA WELCOMES RECOGNITION OF IMPORTANCE OF SAVING

Responding to the savings proposals announced in the Pre-Budget Report, Richard Saunders Chief Executive of IMA said:

“ IMA welcomes the Government’s recognition of the importance of ISAs as a key savings vehicle for investors.  By announcing a consultation on maintaining current ISA limits until 2009 the Government has sent out a clear message to encourage people to save. We would further urge the Government to commit to retaining the ISA beyond 2009 and to ensuring that it contains significant incentives for savers.”

-Ends-

For further information, please contact:

Mona Patel, Head of Communications, IMA, +44(0)207 831 0898 

Out of hours contact:
Mona Patel, Head of Communications, IMA, +44(0)7834 089332

Notes to Editors:

1. You can currently place up to £7,000 per tax year in an ISA until the tax year ending 5 April 2006, after which point the limit will drop to £5,000.

2. IMA will be issuing a further press release on other aspects of the PBR shortly.

65 Kingsway London WC2B 6TD 

Tel: +44 (0) 20 7831 0898 Fax:+44 (0) 20 7831 9975 

www.investmentuk.org 

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