Posted January 4, 200916 yr With interest rates likely to fall yet again this week to 1.5% or even lower, should savers be protected from these extreme low rates. Millions of pensioners who have spent a lifetime foregoing purchases to save for their retirement will find their incomes drop as interest rates fall. These people made responsible choices to avoid going into debt during the years when the banks were falling over themselves to lend everyone money. The effect of the Government's present policy is to punish them for it. Is it fair that the people who borrowed way over their limits seem to be being helped by lower mortgage rates but savers who didn't borrow anything are being severely punished. Should all savings be tax free to at least help address this problem? Otherwise, what is the incentive to save if you only earn 1% or 2% then you get hit for tax on top of this. Or does the Government deliberately not want us to save, but to spend spend spend.
January 6, 200916 yr Should savers be protected from falling interest rates? no life isnt a certainty and it has its ups and downs. you have to learn to take the knocks. would savers be happy to have a cap on the increase in savings? no, so why should they have a bottom limit?
January 7, 200916 yr Should savers be protected from falling interest rates? no life isnt a certainty and it has its ups and downs. you have to learn to take the knocks. would savers be happy to have a cap on the increase in savings? no, so why should they have a bottom limit? I agree, it's harsh, but that's Capitalism for you innit...? :rolleyes: Although, Brian has a point also, the Govt, for all its talk of "prudence", does appear to want us all to spend our way out of the recession, which is surely pretty irresponsible...
January 7, 200916 yr No I never heard any complaints from savers when interest rates were in double figures so they have no real reason to complain now
January 8, 200916 yr No I never heard any complaints from savers when interest rates were in double figures so they have no real reason to complain now Totally... It's the whole "cant have your cake and eat it" dichotomy innit....? LOL
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