Motion S5M-06800: 21% of Scots Not Saving

20 Jul 2017

That the Parliament notes the findings from the Bank of Scotland’s annual How Scotland Lives study, which shows that a growing number of people in Scotland have no savings; understands that the study shows that 21% of people have not put any money away, which is up 3% on the previous year; notes with concern that those resident in Glasgow were found to be saving the smallest amount, with 27% saying that they had no savings; considers this to be due primarily to the inequality of income and wealth in society so that those less well-off are not able to maintain savings of three to six months’ wages, which is the recommended amount, and considers that a more equitable sharing of the UK’s and Scotland’s income and wealth must be a high priority for both parliaments.