Sunday, October 19, 2008

That rare breed the red spotted saver is nearly extinct

Credit crunch latest

Meanwhile, inflation hit a 16-year high of 5.2 per cent. This means that, after tax and inflation are taken into account, savers will find it near impossible to make headway. Moneyfacts.co.uk says a standard rate tax-payer needs to find an account paying 6.5 per cent just to break even, while a higher rate taxpayer needs to earn 8.63 per cent.

Posted by matt_the_hat @ 09:40 AM (619 views)
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5 thoughts on “That rare breed the red spotted saver is nearly extinct

  • planning4acrash says:

    “HPC bloggers, wih foresight, now count for 1/10th of all UK savings, posing as a direct threat to the establishment, Rothschild, et al. likely to overtake the British ‘establishment’ within 5yrs” – Imaginary headline from the Time.

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  • planning4acrash says:

    So buy gold then. I expect Gold to rise at least 10% in the next year. If you aren’t rushed, you can buy on the trough’s, buy on the peaks and make more, heck, and it could double, but even 8% appreciation is good enough for me.

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  • 7,2% is the best I can see.

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  • Eternal Sceptic says:

    Well done crash gordon.It is perfectly obvious to the entire population that to live off the fat of the land, all you need to do is breed like a rabbit, do jacksh***t and the government will provide. Do an honest days work, stay out of debt and your savings will be raped. Welcome to the reality of nu labour.

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  • The best I can see is 7.5% for a five year fix from State Bank of India. Minimum deposit is £10,000. But will they still be around in 5 years time?

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