Savers penalised by government

Madam, The Conservative Party have announced a package of proposed measures to reduce taxes for savers and pensioners.

Hooray!! At last some help for the people who have been thrifty, putting aside their money instead of just spending it. Also some increased income for pensioners through tax allowance change helping them a great deal as many are dependent on their savings to back up their pension.

In an article in the Ross Gazette (Jan 15th) Jesse Norman estimated that 15,000 people across Herefordshire would benefit from such cuts in taxation on savings income. He said that savers and pensioners were innocent victims of Gordon Brown's recession. Quite right! Those of us who have been careful with our money over the past few years now find ourselves with little or no payback as the recession deepens.

People should be encouraged to save but there seems little benefit in doing so whilst this Government is in power. Spend, spend, spend has been their motto - look where we are today. At least the Tories want to restore the confidence of savers and pensioners.

 J M Bradley