The Treasury s much anticipated green savings bonds could be a major disappointment for rate-starved savers, according to experts.
Chancellor Rishi Sunak announced in the Budget that everyday Britons would be able to help fund the country s green recovery from the pandemic through bonds offered by National Savings & Investments.
Details remain thin on the ground beyond the fact the bonds will be launched this summer, but figures from the Office for Budget Responsibility forecast NS&I is set to raise just £6billion from savers in 2021-22, down from £20billion this financial year.
NS&I will launch new green savings bonds this summer, the Treasury said today
The Chancellor is aiming to unlock some of the £143billion worth of lockdown savings by Britons to fund the country s green recovery from the coronavirus pandemic, the Treasury has revealed.
Ordinary savers will be able to buy into green savings bonds offered through National Savings & investments later this year, according to an announcement released ahead of Wednesday s Budget.
More details will be revealed closer to the time of issuance, but funds raised will be earmarked for projects such as renewable energy and clean transportation that will help the UK build back greener and meet its target to cut greenhouse gas emissions to net zero by 2050 , the Treasury said.
Green savings account from NS&I: What rate could they pay? dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.