Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many Help to Save accounts (a) have been opened and (b) have no deposits; and what steps he is taking to encourage account holders to actively utilise those accounts.

HM Revenue and Customs (HMRC) has published statistics on Help to Save accounts up to July 2020. These statistics show the total number of accounts opened now stands at 222,000 and there are 60,500 accounts that are yet to receive a deposit. The latest publication is available at: www.gov.uk/government/statistics/help-to-save-statistics.

HMRC has recently issued regional press releases to highlight the advantage of the Help to Save scheme and bonuses available.

All Help to Save customers receive a welcome pack that gives them information on how to maximise the bonus available. They also receive annual statements that update them on their account status. HMRC regularly contacts customers with no deposits to remind them that their account is open and how this affects their future bonus payments.