Added: 16 March 2016
Paul Winter, CEO of Ipswich Building Society, comments on the latest Budget announcement
Commenting on George Osborne’s latest Budget announcement, Paul Winter, Chief Executive of Ipswich Building Society, said:
“It is clear from the latest Budget announcement that the UK economy is not growing as quickly as originally forecast, with further global economic issues looming on the horizon. It is unlikely interest rates will rise any time soon given the forecast for inflation.
We are delighted with the agreement on devolution for East Anglia and the announcement of funding for the Ipswich Wet Dock Crossing which will help attract development in the town.
Ipswich Building Society believes accessible financial education is a vital resource and key life skill, therefore we are keen to see the government’s next steps following the abolition of the Money Advice Service. We believe we are unique in the industry by employing a Financial Education Assistant, and our focus ensures at least 25% of our employees are trained to deliver financial education across primary, secondary and adult age groups. This is something we will continue to champion and offer support to like-minded organisations.
Finally, anything which encourages saving is to be welcomed, therefore we’re pleased with the decision to increase the ISA limit and the introduction of the Lifetime ISA – clearly a first step toward changes to pension provisions.”