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Quote by George Osborne

“One of the big problems we have in this country is that not enough people understand how important it is to save, understand the details of credit card statements, to be able to compare different APRs and the like. I support the idea.”

Quote by George Osborne

Author

George Osborne is a prominent British politician, born on May 23, 1971. He served as the Chancellor of the Exchequer and was a key member of the Conservative Party. He has been active in British politics for many years, having a significant impact on the country's economic policies. more

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“I would also like to see children aged between 11 and 18 taught financial education in a structured way in schools. I would also say that that is not enough. You have also got to improve numeracy skills, mathematical skills in schools.”

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“Let's also teach people about pensions and savings, insurance and the like. But if they aren't already familiar with numbers that won't be as effective as it might be.”

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“One big theme for me is that we have got to move from an economy built on debt to one where we save and invest in the future.”

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“For example at the moment there is a compulsory requirement to buy an annuity. That is something we would get rid of. It puts some people off saving.”

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“You also want to look at how the tax system encourages and rewards pension saving. I have set as an ambition reversing the effects of Gordon Brown's tax raid which heralded the beginning of the age of responsibility. We are looking at some very specific tax measures on how we can encourage saving.”

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“You need to have a state pension that doesn't drag more and more people into means-testing each year and make it very difficult for people on low to medium term incomes to save and not see their savings clawed away.”

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