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Saving Gateway @ DirectGov £1.00

rjmain Avatar
6y, 8m agoPosted 6 years, 8 months ago
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingMoney/SavingsAndInvestments/DG_10010450

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.
I AM NOT SURE IF THIS HAS BEEN POSTED BEFORE BUT I HAVE SEARCHED AND CANNOT FIND IT - FILE IT AWAY FOR FUTURE REFERENCE - 50% INTEREST, CAN'T BE BAD. ISA's ARE OFFERING ABOUT 0.5% IF YOUR LUCKY - TERMS APPLY - THERE ARE DEPOSIT LIMITS OF £25 PER MONTH BUT, IF YOU DEPOSIT £600 IN 2 YEARS THE GOVERNMENT WILL GIVE YOU £300 INTEREST, INTERESTED? I KNOW I AM - READ CAREFULLY - STARTS JULY 2010 - CHECK OUT LINK TO .GOV WEBSITE
rjmain Avatar
6y, 8m agoPosted 6 years, 8 months ago
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#1
this seems a great deal, for those who benefit(s) from it, but the government wonders why they are cash strapped? :roll:

The budget states that money has to be cut and that high earners are getting 50%, but they can afford schemes like this.

I think I read somewhere today that Polish women can move back to Poland, have a baby and send the NHS the bill cos they lived in Britain. mental
#2
how moronic does this government think we are?
people on those sort of incomes can afford to save? if so i might as well give up working, laughable.....
sounds more like a scam to see who "doesn't really need those benefits" lol
#3
interesting, not heard about that before
#4
maddogb
how moronic does this government think we are?
people on those sort of incomes can afford to save? if so i might as well give up working, laughable.....
sounds more like a scam to see who "doesn't really need those benefits" lol


lol, good point.
#5
Does that price include P&P? (pence and pounds) :oops:
#6
There are ISAs available with more than 0.5%.. you just need to obviously shop around a bit more :)

But obviously this is a good option for those on a lower income.
#7
I was reading in disbelief :(
#8
this is absolute madness. Typical labour buying workshy votes.
#9
Aye as usual the low income/benfit brigade get it all and those just outhwith the threshold get heehaw - 50% interest - sucks................ I'm only getting 0.5% for my ISA
#10
Latinosharkey


I think I read somewhere today that Polish women can move back to Poland, have a baby and send the NHS the bill cos they lived in Britain. mental


Sounds like you read the Mail or that other pathetic excuse for a newspaper, the Express :)
#11
Government wants you to spend to revive the economy but also to save if you are on a low income. Contradiction after contradiction. We are lost.
#12
Another Brownish idea for headline politics .. :|
#13
bit harsh im on sh1t wages 16k a year and i have managed to save 6k in just under a year also bringing up 2 toddlers as well big medal for me yer

so not all people on a low wage that get benefits like tax credits are lazy fu(ks

i work hard for my money and save twice as hard to get the things my kids NEED and save to enable us to have a good family holiday and xmas ect and a start for them when they are older

shame we cant all get 40k plus jobs all talking boll0x like most management do

rant over

i think its a good idea
#14
It's a very good idea. I've forwarded the link onto people i know it'll help. They are made up. HOT
#15
I sometimes wonder if hubby and me should separate and have 1 of our children each, we'd then be able to get loads of benefits as we both earn under 16k each! Once again a great deal for single parents, immigrants etc but where's the help for hard working married couples! Can't even get help with childcare costs in the school holidays so we're forced to shove the kids onto people or pay £30 a day for childcare!
#16
Is Gateway still going?
#17
No wonder the country's broke.
banned#18
unreal! Are people on these benefits so well 'paid' that they have money to save? Yet more incentive to just give up working.

Is this scheme an april fool? Seriously.
banned#19
doodlebug;8233434
I sometimes wonder if hubby and me should separate and have 1 of our children each, we'd then be able to get loads of benefits as we both earn under 16k each! Once again a great deal for single parents, immigrants etc but where's the help for hard working married couples! Can't even get help with childcare costs in the school holidays so we're forced to shove the kids onto people or pay £30 a day for childcare!

you would actually be better off if you gave up work as then your joint income would be below 16k so then the benefit bonanza would kick in (free laptop, housing benefit, working tax credit, 50% interest, cold winter payments, council tax relief, reduced utility bills, etc etc etc).

Seriously, you should give up work.
#20
Where on earth do the Government find the money. Oh I know, it's from the majority, middle earners, who keep getting stuffed . With an income of £30,000 there is no way I can afford to save. After paying my mortgage, household bills, and other living expenses I'm left with "diddly-squat". Surely this money would be better used bolstering the minimum wage in the first place.
#21
Another perk for the scroungers that are already bleeding our benefit system dry! The majority of whom can't work???!?!?.......yeah, more like won't work!!!!!
#22
Do you know what? If this was for a £200 top spec pc you'd all be chasing it but no, because it's a 'benefit' for the 'scroungers' then you knock it. I don't understand you lot! Let me tell you something now: For your information I'm on benefits, yes benefits. Not by choice I can tell you. Let me ask you a question: Do you know anyone that has made a personal injury claim? Made a few grand and most of it was *ullshi*? Ring any bells? Well back in 1973 I fell over at work and seriously damaged my back. There was no 'No Win No Fee' schemes then. And now I'm suffering with no compensation, just benefits. Does this make me a scrounger? Dah! And for one I will be taking out this savings plan! Go ahead people take it out YOUR ENTITLED TO IT!
banned#23
rjmain;8234118
Do you know what? If this was for a £200 top spec pc you'd all be chasing it but no, because it's a 'benefit' for the 'scroungers' then you knock it. I don't understand you lot! Let me tell you something now: For your information I'm on benefits, yes benefits. Not by choice I can tell you. Let me ask you a question: Do you know anyone that has made a personal injury claim? Made a few grand and most of it was *ullshi*? Ring any bells? Well back in 1973 I fell over at work and seriously damaged my back. There was no 'No Win No Fee' schemes then. And now I'm suffering with no compensation, just benefits. Does this make me a scrounger? Dah! And for one I will be taking out this savings plan! Go ahead people take it out YOUR ENTITLED TO IT!

so you've been on benefits for 37 years? WTF! :w00t:
#24
This is a pile of crap!!! When will the government support hardworking people!!!!
1 Like #25
csiman
so you've been on benefits for 37 years? WTF! :w00t:


Do you have a point exactly?
#26
You guys have got me absolutely fuming.Bang out of order but you obviously have little or no experience of living on benefits.Its sh it let me tell you.No life.A few are at it getting what they dont deserve and working the system but not most.I totally agree that those working on the lowest incomes are sometimes worst affected and think going to work should be more financially beneficial.To end up worse off than staying on benefits that cant be right and is not for the unemployed an incentive to work either.Basic benefits and council housing would you lot swap I doubt it.Its such a complex issue and all you can make is broad strokes tarring everyone with the same brush.You lot should go secret mililonare style and find out what its like.
#27
Sorry ,also if you can scrape together enough on benefits to save some which wont be many of them then use it.I cant see how it is anything but good.Its not going to make a huge difference to great many though.Sorry for having a go I wasnt directing it to everybody ive never posted on a forum before.It got me all fired up.
banned#28
Bradshaw;8234686
You guys have got me absolutely fuming.Bang out of order but you obviously have little or no experience of living on benefits.Its sh it let me tell you.No life.A few are at it getting what they dont deserve and working the system but not most.I totally agree that those working on the lowest incomes are sometimes worst affected and think going to work should be more financially beneficial.To end up worse off than staying on benefits that cant be right and is not for the unemployed an incentive to work either.Basic benefits and council housing would you lot swap I doubt it.Its such a complex issue and all you can make is broad strokes tarring everyone with the same brush.You lot should go secret mililonare style and find out what its like.

More than a few I can tell you. I must know about 8 or 9 people on benefits and not one of them is unfit for work. They have just taken the lifestyle choice to live off benefits as its the easy option as they need to get at least a 15K a year job to be any better off.
banned#29
BTW, its not actually 50%

bonus is paid AFTER 2 years so £25 saved in month 1 would get equivalent rate of about 20%.

Then again, £25 saved in month 23 would get an interest rate of about 500% as £12.50 bonus only 1 month later!
#30
csiman
you would actually be better off if you gave up work as then your joint income would be below 16k so then the benefit bonanza would kick in (free laptop, housing benefit, working tax credit, 50% interest, cold winter payments, council tax relief, reduced utility bills, etc etc etc).

Seriously, you should give up work.


and what make you think that...my husband works, while i look after my young kids. His wages are £15,000 and the only benifit we get from your list is Working Tax Credit of £22 per week!!!
#31
wolfina
and what make you think that...my husband works, while i look after my young kids. His wages are £15,000 and the only benifit we get from your list is Working Tax Credit of £22 per week!!!


Ignore him, he is the type of person who laughs at the long term sick. Not the type to enter into any kind of meaningful debate with.
#32
vinnynice
this is absolute madness. Typical labour buying workshy votes.


agreed, dirty and typical vote buying pre-election
banned#33
wolfina;8235215
and what make you think that...my husband works, while i look after my young kids. His wages are £15,000 and the only benifit we get from your list is Working Tax Credit of £22 per week!!!

you forgot the £96 working tax credit you get too each week

Broadsword;8235301
Ignore him, he is the type of person who laughs at the long term sick. Not the type to enter into any kind of meaningful debate with.

LOL hard - moving on..............:whistling:
#34
I bet hardly anyone takes it up.

That's £25 less a month to spend on Bensons.
#35
ses6jwg
I bet hardly anyone takes it up.

That's £25 less a month to spend on Bensons.


hahaha, well said! The type of scum who are ripping a hole out of the benefits system would rather buy their cheap fags than save, why bother saving, they're ALWAYS going to be supported by the taxpayer! LOSERS!
#36
csiman
so you've been on benefits for 37 years? WTF! :w00t:


NO you muppet! I have NOT been on benefit all that time. I worked for 30 years since then with my injured back. You just read into what you like and don't consider anyone genuine. If your not interested in the savings plan then DON'T COMMENT - Simples!
#37
csiman
More than a few I can tell you. I must know about 8 or 9 people on benefits and not one of them is unfit for work. They have just taken the lifestyle choice to live off benefits as its the easy option as they need to get at least a 15K a year job to be any better off.


Quote: I must know about 8 or 9 people on benefits and not one of them is unfit for work

Then it's your duty as a whinging tax payer to shop them. Stop moaning you moron!
#38
Gball
hahaha, well said! The type of scum who are ripping a hole out of the benefits system would rather buy their cheap fags than save, why bother saving, they're ALWAYS going to be supported by the taxpayer! LOSERS!



I don't smoke! Am I still scum? With the money I save from NOT SMOKING BENSONS I'll get all of my family claiming, all 14 of my kids. Luvvly Jubbly (Idiot!)
banned#39
rjmain;8236743
Quote: I must know about 8 or 9 people on benefits and not one of them is unfit for work

Then it's your duty as a whinging tax payer to shop them. Stop moaning you moron!

did I say they were claiming illegally you muppet!? :whistling:

two have bad backs that only appear when they have to get their yearly exam! Sez it all really :roll:

Others just claim depression or have kids so can claim without fear of having to get a job.
banned#40
not a deal anyway - just info about a useless vote buying government scheme that doesnt start for 3 months anyway. And those eligible get notified automatically anyway.

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