The StepChange debt charity (no, me neither) wants the gobblement to enforce savings for people who can’t afford it by simply taking the money from their pay before they get it.
Well, that wouldn’t be too bad if you could get at those ‘rainy day’ savings but it’s not that easy. I mean, if you force people to save and they want to (or have to) spend it anyway, what’s the use of letting them have access to it?
Saving under the scheme would be incentivised with the Government and employers agreeing to match a proportion of the amounts saved through tax relief and employers’ contributions
That sounds good, but it;s not. If it was the case that every £10 you saved was matched by £10 from your employer, then your salary would reduce (or not increase) by your employer’s contribution so you get the same money anyway except that now you can’t get at £20 of it.
Pots would be retained if the individual wishes to change jobs or becomes unemployed
Retained by whom? Lost to the employee, or does it mean frozen? Either way you have a forced savings account in case of emergencies that you cannot access if you become unemployed? What the blistering fuck use is that to anyone at all? You might as well wallpaper your bedroom with five pound notes. You’ll end up with lots of saved money, none of which you can spend.
The only ones it will benefit will be those creaming off the admin fees for running this idiotic idea. Who might that be, I wonder?
Couldn’t be a debt charity, by any chance?
Oh and speaking of charities, tonight I have drunk almost a tenner’s worth of CRUK’s potential donations. Drinking it instead of sending it to a bunch of control freak bastards who care nothing for your health, only for their wallets, leaves a much better taste in my mouth.