You are here: Home - Saving & Banking - News -

Budget 2008: Darling pledges pensions assistance

Written by:

Chancellor Alistair Darling said in his Budget speech that he “wanted to do more to help older people especially this year” with regard to pensions.

He said the Government is spending £11bn more in real terms per year on pensions with over half this extra money going to pensioners on the lowest incomes.

From this April, as a result of changes made last year, a further 600,000 pensioners will be taken out of paying income tax. The pension credit now guarantees a minimum income of £124 per week from April.

Darling also confirmed that changes to Individual Savings Accounts (ISAs) would take effect from 6 April.

He said: “There are now over 17 million people with ISAs and, from this April, we are increasing the annual investment limit to £7,200 with the amount that can be held in cash rising to £3,600.”


Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
West of Britain most enthusiastic about saving

People in the West of Britain are keener to save than those in the East, according to Icelandic bank Kaupthing...