Savings (Government Contributions) Bill (Second sitting)

Debate between Melanie Onn and Kelvin Hopkins

Tuesday 25th October 2016 Public Bill Committees

[Melanie Onn]

Not in isolation.

Calum Bennie: No.

[Kelvin Hopkins]

Q I am somewhat sceptical about the myriad private savings schemes and have argued the case for a much more comprehensive compulsory state savings scheme for everyone, on top of which people could save in other ways as well as in stocks and shares. What would be the case against having a universal state earnings-related system with defined contributions and defined benefits, which would be extremely efficient to operate, easy to administrate and which everybody would know they were going to get a good deal from? What would be the argument against that?

Calum Bennie: I don’t think there is an argument against that.