NS&I’s financing target will rise from April – what does this mean for Premium Bonds and its new savings bond?

The Spring Budget included NS&I’s new net financing target, as well as the launch of a British savings bond. What does this mean for Premium Bond holders and savers?

Ladder on Stack of Coins
(Image credit: Nora Carol Photography)

The government will increase National Savings & Investments’ (NS&I) net financing target by £1.5 billion in the 2024/25 tax year, the chancellor revealed in his Spring Budget

The target tends to be set by the Treasury just before the new tax year, and used to increase government funds. It currently stands at £7.5 billion.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.