yes they should, why should people who save for a rainy day & retirement be penalised for those spendaholics
Here we are a recession caused by people living beyond their means, whilst those that have not have seen interest rates slashed on their savings. Meanwhile, interest rates are kept low on borrowings etc at the expense of saviongs rates 'rewarding' those who borrowed and peanalising thsoe that have saved....
Its about time the Government made some ajustment for this - how about removing the tax - or reducing it - on interest from savings?
Yes savers should be protected. Trying to save for retirement is impossible with these low interest rates. And indeed saving for anything - holidays, home improvements. One relies on the interest received to boost savings.
Yet again, as always, the careful & prudent carry the can for the profligate & feckless.
Its about time that the banks & govenments recognised [& suitably rewarded] the savers that have kept them afloat through the bad times rather than lining their own pockets all the time!!
The present interest rates encourage spending not saving and the banks and building societies need to realise that money can move. As interest rates on mortgages and loans rise why has there been no move in the rates paid to the thrifty savers? The Government has deliberately ripped off the savers to finance its profligacy and should begin to think again. The irony is that the deliberate ploy has failed and now we are going to have to pay the piper!
TAX FREE SAVINGS FOR OVER 65s, perhaps not so much to pay out in benefits ,so it would equal things out. Ater all we have paid tax for an average of 50 years by the time we reach 65yrs
The government (FSA) should also force banks to pay the same rates for their ISA (tax free) accounts as they do for their other (taxed) savings accounts. Most ISA savings accounts pay around 20% less. Non-tax payers may better off with their savings in the taxed savings schemes with higher interest rates - so long as they claim the tax back.
Just what is the point of saving at the current level of interest rates as your capitol is simply dissapearing in value day to day.
The Government has robbed Peter to pay Paul. People with mortgages are laughing all the way to the bank at the expense of the savers.
I saw this man on TV who was very happy because his monthly mortgage payment had dropped from £1,500 to £1,000 a month. As we all know, this was financed by the savers whose income had dropped substantially.
What annoys me is that the Government has helped people with mortgages by bringing various mortgage schemes to protect them. On the other hand, the Government has done nothing to protect the savers from the huge drop in their income, especially the pensioners.
I feel that it would be too much government control for my likings & THERE WILL BE AND EXTRA TAX FOR THE PRIVILAGE REMEMBER THAT MORE TAXES PEOPLE!!- WE ALL HAVE BRAINS!!! - WE CAN ALL LOOK AT A PIECE OF PAPER AND SEE THAT 3% IS HIGHER THAN 1% in the same way when we borrow WE CAN SEE the if i didn't save up for the new car and borrowed the money I HAVE TO PAY INTEREST & 28% is HIGHER than 10% if you do not understand money - Take course as you will be spending MONEY at some point for everyday of your life. STOP THE BLAME GAME AND TAKE RESPONSIBILITY!!!
Bite the bullitt, Gov should stop easy credit for non industry purposes, only short time ago we were told to save for our pensions etc and stop spending on credit. Now we are being told to spend to help the bankrupt bankers and accept pittance for our savings. After 50 years of work, (paper boy at 13) surely some protection is not unreasonable for the prudent saver.
I still pay income tax, full council tax, never claimed for state benifits Successive govs spending money they don't have, providing levels of state benifits that cannot be financially supported and the public thinking that life owes them a living I suggest that the country is doomed to fail. Call in the receivers.
No, of course they shouldn't.
This country has a large enough deficit without adding to it.
I'm retired on a fixed income and have suffered like everyone else with low interest rates and high inflation but I don't expect to be baled out.
It's about time everyone started taking responsibility for themselves rather than looking for someone to bale them out.
I think the banks who got us into this mess and used our money to bail them out should reward their savers with more interest. This could be funded by not paying out massive bonus'. We have been prudent with our cash and are now penalised for it. If we all had been living beyond our means half of the banks would now be non existant, as they are using our money to stay afloat.
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