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Ash4781

Britain Is A Nation Of Savers Again?

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http://www.lovemoney.com/news/grow-your-wealth/savings/britain-is-a-nation-of-savers-again--5091.aspx

According to a Bank of England report, British households borrowed £20 billion in new loans last year ? but managed to save £24 billion.It?s the first time we have saved more than we?ve borrowed since records began in 1988 and demonstrates just how much some people have reined in their spending during the economic crisis.Families are now borrowing just 16% of the £125 billion  they were borrowing when credit was cheapest, back in 2004. That?s the smallest amount we?ve borrowed since 1993 ? the last time Britain was in recession.Families are saving a much greater proportion of their household income too - from an average of 2% in 2008, families in 2010 are now squirreling away as much as 8% of their income, a level not seen for 12 years.

In addition as the government also tries to cut spending and raise taxes, and possibility of change in capital requirements the rebalancing continues . Someone posted a thread on M4 money last week that seemed to show still very weak growth. Looks like deflation.

Interesting that one member on the MPC voted for an interest rate hike.

Edited by Ash4781

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  • 258 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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