17 April 2009

Brewin Dolphin is the largest independent investment manager for private investors in the UK and believes a priority for the Budget next week must be to restore the faith of all savers.  The foundations of the economy are swaying as it has been built on debt. Urgent action is needed to help responsible households rebalance their books and reward cautious savers, who are currently being heavily penalised by the profligate borrowers.

With interest rates at a record low, the Chancellor should give savers a shot in the arm and grant a basic rate tax holiday on income from all savings for a year, to help investors recover their positions and restore faith in investing in equities.  Shareholders oil the wheels of economies. By investing in companies, shareholders spark enterprise, fund innovation and help businesses grow. Without shareholders’ capital, economies would grind to a halt. 

Allowing investors more of their savings to spend will do more for the economy at large, than VAT cuts and ever more Government borrowings spent by the Government on questionable gimmicks.

The Brewin Dolphin Group manages approximately £17 billion of funds for over 130,000 private clients and of this £9.5 billion is on a discretionary basis. Brewin Dolphin has 39 offices throughout the UK and Channel Islands and is a FTSE 250 listed company.

For further information please contact Charlotte Black on 0845 213 3331