Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what data his Department holds on the take up of Help to Save scheme; and what steps his Department is taking to increase rates of take-up.

HMRC publishes data on Help to Save as part of the Annual Savings Statistics: September 2026. The latest statistics show that 656,700 Help to Save accounts have been opened since the scheme began, with 293,600 accounts open as of April 2026. Around 85,100 accounts were opened between April 2025 and March 2026, compared with 55,750 in the previous 12 months.

Since the scheme began in 2018, 566,650 people have deposited into a Help to Save account, an increase of around 14% from April 2025. Among those making deposits, the average monthly deposit was £48, with 94% of monthly deposits at the maximum £50.

The Government promotes Help to Save through targeted digital and social media advertising, direct communications with eligible customers, and engagement with trusted partner organisations to raise awareness and encourage take-up.

The Government’s Help to Save Reform Delivery Consultation Response, published in June 2026, confirmed that Help to Save will move to a multi-provider delivery model, enabling approved banks, building societies and credit unions to offer Help to Save accounts directly to eligible customers. These reforms are intended to increase awareness, accessibility and take-up of the scheme.

Eligibility was expanded in April 2025 to all working Universal Credit claimants earning £1 or more and will be expanded further in 2028 to include all Universal Credit claimants with children or caring responsibilities.