MSE News: Help to Save scheme to offer £1,200 bonus to low-paid workers

sharpharp

This is pathetic, they should offer this scheme to those on a Low "working" wage, not those on the various benefits....


The government have totally misjudged the intended audience for this scheme. Offering it to those on benefits, as the previous poster just said, will just put an even bigger smile on the work shy.


Yes I'm sure their are those who cannot work for a reason, but it just seems that whenever the government does something like this, it's always to the detriment of the working people.

steve65e

sharpharp wrote: »

This is pathetic, they should offer this scheme to those on a Low "working" wage, not those on the various benefits....


The government have totally misjudged the intended audience for this scheme. Offering it to those on benefits, as the previous poster just said, will just put an even bigger smile on the work shy.


Yes I'm sure their are those who cannot work for a reason, but it just seems that whenever the government does something like this, it's always to the detriment of the working people.

Ermmm...

MSE News: Help to Save scheme to offer £1,200 bonus to low-paid workers


The scheme is not available to those you disgustingly refer to as workshy.

King_Nothing

cheesetoast wrote: »

And what's to stop someone more well off, finding a relative on benefits that they trust, saving the £50 a month in their name, taking the capital back at the end of the term, and splitting the bonus?

Easy way for two people to make a few hundred quid each.

That's my plan, if my parents can open one each, £7.2k out for £4.8k in :T

bristolleedsfan

When axing introduction of '50p for £1' Saving Gateway in 2010 this is what was said :

http://www.thisismoney.co.uk/money/saving/article-1696486/Budget-2010-50p-for-1-Saving-Gateway-is-axed.html

"The Treasury's reasoning is that if the Goverment borrows more money it will lead to more problems in the future. If poorer people are helped now to build up assets, they will face higher future taxes to pay back the debt"

POPPYOSCAR

Why do they have to be receiving benefits to qualify?


Surely it should be available to all those on a low wage.

steve65e

POPPYOSCAR wrote: »

Why do they have to be receiving benefits to qualify?


Surely it should be available to all those on a low wage.

I think it's assumed that the low paid will be receiving in work benefits unless they already have savings or another income/higher earning partner, in which case they don't need the help.

POPPYOSCAR

steve65e wrote: »

I think it's assumed that the low paid will be receiving in work benefits unless they already have savings or another income/higher earning partner, in which case they don't need the help.

So what in work benefits is my minimum wage daughter entitled to?

steve65e

That would depend on her age, hours worked, housing costs etc, the area she lives in and whether universal credit has been introduced there. There is a benefits calculator here.

https://www.turn2us.org.uk/Find-Benefits-Grants

I did for a 30 year old in my street,no children, working 37 hours minimum wage, paying £100 pw rent. It gave me £25 pw now, £41 when Universal credit comes in.

(i'm not saying I agree with any of this btw. It seems like a hare brained scheme which almost no-one will claim from, and might not even happen)

POPPYOSCAR

steve65e wrote: »

That would depend on her age, hours worked, housing costs etc, the area she lives in and whether universal credit has been introduced there. There is a benefits calculator here.

https://www.turn2us.org.uk/Find-Benefits-Grants

I did for a 30 year old in my street,no children, working 37 hours minimum wage, paying £100 pw rent. It gave me £25 pw now, £41 when Universal credit comes in.

(i'm not saying I agree with any of this btw. It seems like a hare brained scheme which almost no-one will claim from, and might not even happen)

Exactly, she is 19 and entitled to nothing but is a low paid worker so not all low paid workers will be eligible, so my point still stands.

themanfromamarillo

I suspect using benefit payments as a qualification for this is partly related to saving money on admin. If you have a means-tested savings scheme it makes life easier for you if you pick some group of people who've already been means-tested (i.e. those on benefits) rather than do a whole new round of means-testing yourself.