Having a target to work towards is a great motivation for getting a job done and the UK government is no stranger to setting, or having to work towards, them.
We have targets for carbon emissions, child poverty and even broadband. Where money is concerned there are even more: interest rates, spending and borrowing.


But there is one crucial target that has been overlooked. We all know that credit-addicted, debt-soaked Brits know how to splash the cash but we also know we should be saving, especially in this faltering economy where job security is no longer guaranteed – putting away something for a rainy day makes sense.

So why hasn't the government introduced a savings target; measure how much the average Brit is saving each month (not much at the moment I'd bet), set a realistic figure for what should be saved each month (say for retirement) and aim to get the British public there.

The amount only needs to be small - £100 a month can make a big difference if it is saved consistently and over time. It also has the added benefit of getting people into the mind-set of saving for something rather than reaching for the credit card to get an instant fix.

Setting a savings target would mean more work, and therefore more cost, for the government but encouraging people to save has long-term benefits and allows people to take control of their financial futures and stop being a burden on the state in later life.

The target could be followed up by a concerted effort to get people to save. The five-a-day fruit and veg mantra has become ingrained in our psyche thanks to the government's campaign on healthy eating – similar action around saving could have even greater benefits.

But as with all these ideas, there is one hiccup; the government consistently fails to deliver one message across all its departments.

The Treasury wants us to spend our way out of a recession, pump money into the economy by continuing with our spendthrift ways. However, the Department for Work and Pensions (DWP) is keen for us to save so it doesn't have to bail out even more poverty-stricken pensioners in the future.

If the government could get 'on message' across all departments then we could tackle the chronic under-saving in Britain today. Personally, I'm with the DWP, I think we should focus on the long-term rather than take a Treasury-inclined short-term view.

More stories

• Rich pensioners may lose benefits to pay for care
• Family savings 'up 6% in 12 months'
• Is it safe to use home to fund retirement?