No.Government should start another SSIA
ClubMan said:If the government wants to give tax breaks
The SSIA topup was given as an at source tax credit that benefited all participants whether they paid tax or not. As such discussion of the wider tax system is certainly relevant to any discussion of SSIA style approaches to refunding tax. I believe that there are better and more equitable ways to equalise or reduce the tax burden on a wider range of people than through SSIA style tax credits. One could also argue that encouraging longer term savings such as pensions (e.g. by further simplifying the rules/tax treatment and maybe enhancing the relief) might be more of a priority than shorter term savings such as the SSIA scheme targeted.Who mentioned tax breaks? One didn't have to be a tax paying member of society to avail of the existing SSIA scheme.
Is there any hard data available on this 'culture of savings'? How much of the SSIA savings were simply redirected from other investments (like mine)?
This scheme expanded the gap between the better off (who could afford to contribute such schemes) and the worse off (who are wondering which moneylender can they fend off this week, not which fund to invest their SSIA in)? No future goverment should continue this scheme.
This scheme expanded the gap between the better off (who could afford to contribute such schemes) and the worse off (who are wondering which moneylender can they fend off this week...No future goverment should continue this scheme.