Vale of Aylesbury Housing Trust

In the June issue of residents news, Resident Matters featured an article on Saving Gateway, a Government scheme to encourage those on low incomes to save.

Unfortunately, in the Emergency budget, the current Government announced that the scheme was not viable, and therefore is cancelled.

HMRC issued the following statement:

"The Government have announced that the Saving Gateway is not affordable given the need to reduce the deficit.

The launch of the Saving Gateway – which was planned for July 2010 – has therefore been cancelled. HMRC will take no further action to process any application for approval as a Saving Gateway account provider.

HMRC and HM Treasury are grateful to credit unions, banks, building societies and their representative bodies for their interest in the Saving Gateway, and for their contribution to the development of the Saving Gateway rules and processes.

If you have any questions in relation to this message, please contact saving.gateway@hmrc.gsi.gov.uk

HMRC Saving Gateway team"