Matched Savings Accounts (proposed) -Australia

Australia's Matched Savings Accounts proposal is modeled after Individual Development Accounts in the United States. Proposed by the leader of the Australian labor party, Mark Latham, these matched accounts would first be implemented in a national demonstration program for low- and moderate-income Australians. Participants would have to attend financial education classes and would then receive a match for their savings which could be used for certain purposes such as a child's education and homeownership. The match funding would come from financial institutions, charitable foundations, and the government.

Matched Savings Accounts: Exploring Options