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1122396
star this property registered interest false more like this
star this property date less than 2019-04-23more like thismore than 2019-04-23
star this property answering body
Treasury more like this
unstar this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Personal Savings: Older People remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps he is taking to enable older people to (a) build and (b) maintain an adequate level of savings. more like this
star this property tabling member constituency Newcastle-under-Lyme more like this
star this property tabling member printed
Paul Farrelly remove filter
star this property uin 246476 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-04-30more like thismore than 2019-04-30
star this property answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save.</p><p> </p><p>Older people will continue to benefit from a number of measures the Government has introduced in recent years.</p><p> </p><p>The Government has increased the amount that individuals, including older people and those of State Pension age, can earn or receive in savings interest before paying income tax to £12,500 per year. As a result, people can keep more of their income to invest as they choose.</p><p> </p><p>The amount of money that people can save into their ISAs each year (the annual subscription allowance) has been increased to a record £20,000.</p><p> </p><p>Since April 2016, individuals have also been able to benefit from a new Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers.</p><p> </p><p>As a result of these measures, over 95% of people with savings income pay no tax on that income.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-04-30T16:13:50.017Zmore like thismore than 2019-04-30T16:13:50.017Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1436
unstar this property label Biography information for Paul Farrelly more like this