Thousands to top up SSIA before budget

Thousands of people are expected to start pumping millions of euro into the special savings scheme before the Government's expected move to cap the amount savers can deposit in SSIA's.

Finance Minister Charlie McCreevy is expected to try and save the exchequer €300m a year by placing a cap on the scheme on budget day.

The SSIA accounts have been taken up by 1.2 million people, which commits the exchequer to matching lodged funds to the tune of 25% or €500m each year.