UnassignedRoyal AssentAct of ParliamentView on Parliament.uk

Savings (Government Contributions) Act 2017

Originating House

House of Commons

Last Updated

17 January 2017

In Plain English

AI-generated

The Savings (Government Contributions) Act 2017 sets out how the government contributes to certain savings schemes and the rules around those contributions. It has now become law after receiving Royal Assent. The act affects savers who participate in government-backed schemes and defines how contributions are managed.

Key Points

Establishes or formalises government contributions to savings schemes.
Defines eligibility and how contributions are calculated and paid.
Sets responsibilities for administering the schemes and for reporting.
The December 2016 Report Stage vote on New Clause 2 was 230 Aye to 277 No.
Most opposition parties supported the bill; Conservatives and Reform UK opposed.

Progress

The bill has completed its passage and is now law following Royal Assent.

Voting

In the key Report Stage vote on New Clause 2 (2016-12-12), the division was 230 Aye to 277 No. Labour, Liberal Democrats, SNP, Plaid Cymru, DUP and Independents supported; Conservatives and Reform UK opposed.

Who is affected?

Savers/beneficiaries of government contributions to savings schemesFamilies and households using government-backed savings schemesFinancial services providers involved in the schemesHM Treasury and other government departments administering the schemesTaxpayersfunding the government contributions

Generated 21 February 2026

How Parties Are Voting

Based on 1 recorded vote • Sorted by % Aye

Labour (Co-op)Generally For

86 / 0

Democratic Unionist PartyGenerally For

3 / 0

Liberal DemocratGenerally For

3 / 0

IndependentGenerally For

2 / 0

Scottish National PartyGenerally For

1 / 0

Plaid CymruGenerally For

1 / 0

ConservativeGenerally Against

0 / 52

Reform UKGenerally Against

0 / 3

SpeakerMixed

0 / 0

Sinn FéinMixed