FAMILIES ON low incomes will be given up to £1,200 as part of a new scheme to encourage saving, the Prime Minister announced today.
David Cameron launched a new ‘Help to Save’ scheme which will encourage families to put aside up to £50 a month over four years.
Taxpayers will add a 50 per cent bonus every two years to create a savings pot of up to £3,600.
Mr Cameron said: “I’ve made it the mission of this government to transform life chances across the country.
“That means giving hard-working people the extra support they need to fulfil their potential.”
The Prime Minister will also announce the Government is to spend £12 million over the next four years to support more mentoring for teenagers.
The promises build on policy ideas first floated in a speech in January.