Letter: Savings plan

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The Independent Online
Sir: The pounds 50,000 limit for investment in Individual Savings Accounts ("Brown's new savings plan hits middle class", 3 December) will not suit your younger readers.

I am 30 and if I save pounds 5,000 annually (the maximum) I will have reached the proposed limit in 10 years. If the Government is serious about encouraging the young to start saving, then there must be a real incentive. pounds 4,800 annually seems a reasonable annual maximum (pounds 400 a month) but allow this to be increased tax free over 30 years, not 10.


Reading, Berkshire