Bank rates hit 1%
This is not a good day to buy a winning lottery ticket
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With interest rates now at the lowest recorded levels in British history it is not a good time to be worrying about your savings, in fact it’s hardly worth the bother saving at all, you may as well go out and spend the lot. Well that’s what Broon and Darling want you to do, isn’t it, to stimulate the economy?
With a combination of Labour’s disastrous spend, spend, tax, tax, borrow on the never never economic policies, poor bank regulation, the massive demands for cash placed on the markets by government’s pseudo nationalisations and it’s own future borrowing plans, we have now reached the end of the road for thrift and prudence. Savings and pensions will now be further devalued as banks try to beef up their balance sheets before the end of the fiscal year.
This is not a good time to be buying the winning lottery ticket!
Anybody heard from the Chancellor lately? (Don’t tell me, he’s stuck in the BBC’s blizzard of snow coverage.)