19 Mar 2014
Prudential response to 2014 UK Budget
Prudential welcomes the measures announced by the Chancellor of the Exchequer today to stimulate savings and investment, such as the significant raising of the ISA ceilings and the abolition of the 10 per cent tax rate on savings. It is important to close the savings gap in the UK. Prudential, along with the rest of the insurance industry, will work with the Government and regulators to ensure the new pensions system that emerges from the consultation period produces better outcomes for British savers.
Tidjane Thiam, Prudential Group Chief Executive, said: “We believe in market-based solutions that give consumers choice and flexibility in the ways they save and draw down income in retirement. We have experience of working with many different structures to deliver positive outcomes for our customers around the world. We welcome the Government’s commitment to close the savings and investment gap. Prudential is well placed to continue to provide products that look after its customers’ needs as it has done for more than 165 years, and in turn channel savings into long-term investment in the UK economy.”