PIMFA, the trade association for wealth management, investment services and the personal investment and financial advice industry, welcomes the Chancellor’s reforms aimed at stabilising the country’s finances but calls on him to keep reforms of tax policy under review to ensure millions of people are incentivised to save and invest in future.
Liz Field, Chief Executive of PIMFA, commented: “While we support the Government’s long-term aim to stabilise the country’s finances and balance the books, regular changes to tax policy can be unhelpful and create confusion for those trying to save for their financial future or leave a legacy to their loved ones. Clarity in terms of tax policy allows people to save and invest for the future, safe in the knowledge that there will be few sudden changes that require them to adjust their own plans.’
“The measures outlined in the Chancellor’s statement today will clearly impact on the ability of UK savers to put money aside as well as incentivising them to do so. We would urge the Chancellor to keep these under review to ensure that millions of people are incentivised to save and invest in future.”
