Survey shows saving help falling short

Posted: 24 Apr 2009 12:56:42 GMT

Savers struggling against the low interest rates set by the Bank of England have claimed that the chancellor's latest budget has failed to provide saving opportunities for them.

In a survey to monitor the attitudes of savers, consumer website moneysupermarket.com found that almost two thirds (61 per cent) believed the chancellor should have done much more to help.

The increase in the ISA limit, however, could mean that savers earn a larger return on at least some of their cash, perhaps making up for the recent decline in interest rates paid on their balances.

Kevin Mountford, head of banking at moneysupermarket.com, said: "The increase in the total ISA limit to £10,200 is a step in the right direction to help the nation's savers. However, this is by no means enough to make a real impact on consumers.

"And the delay in allowing those aged under 50 to benefit from the increased limits will come as a sore disappointment to many savers."

Homeowners hoping to make the most of the buyer's market and sell their property at present may reach a higher price selling a home online, as doing so could attract more buyers.


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