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Loan Protection: Inflation Has Taken £8 From Every £100 Saved
Loan Protection: Inflation Has Taken £8 From Every £100 Saved
Inflation is eating a substantial pie of the savings that people in UK have. There seems to be no respite as the inflation beating savings certificate has also been withdrawn from the market.
London,
London,
United Kingdom
(pr4links.com)
24/09/2010
"National Savings & Investments has further dented the hopes of the people by closing down the inflation beating savings certificate. Savers may not get any immediate respite as inflation is not expected to drop in the near future."
FOR IMMEDIATE RELEASE
London, UK, 23rd September, 2010: UK savers have seen the value of their savings diminish following prolonged high levels of inflation.
The Daily Mail has revealed that inflation has taken £8.20 off the value of every £100 worth of savings.
Lenders are pulling high paying savings accounts, with National Savings & Investments closing its inflation-beating savings certificates earlier this year.
Furthermore, the average ISA offered rates which were just 0.26 per cent below inflation, but now savers are offered ISAs which pay around 4.1 per cent below inflation.
Jason Riddle, from campaign group Save Our Savers, claimed the government has abandoned savers even though it consistently stresses the importance of savings.
He told the news provider: "Despite calling for a higher national savings rate in his recent speech to the TUC, Mervyn King, the Governor of the Bank of England, shows no sign of trying to make it worthwhile for people to save."
”As much as £8 of every £100 saved is being taken away by inflation in United Kingdom. The savers are finding it very tough to negotiate the burden of inflation” says financial analyst John Fieldman
who has over two decades of experience in the finance industry and specialises in interest rates and corporate finance. He works as a financial analyst for PPI ClaimCompany.co.uk.
“National Savings & Investments has further dented the hopes of the people by closing down the inflation beating savings certificate. Savers may not get any immediate respite as inflation is not expected to drop in the near future.”
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Contact Details:
PPI Claims
Belmont Thornton
Suite 2, Unit 25
The Coda Center
Street: Munster Road
City: London
Post Code: SW6 6AW
Country: United Kingdom
Phone: 0207 717 9447
E-mail: alex@saveamillionshots.com
Website: http://www.ppiclaimcompany.co.uk
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About
PPI Claims Company is one of the premier PPI companies in the world. It has years of experience in this field and can help you with your payment protection claim using their no win, no service fee policy. To know more about loan protection claims and PPI claim back log on to http://www.ppiclaimcompany.co.uk/.
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