Savings reach four-year high by Finance News Bulletin

Published: 09/02/07

store figures show that adults in the UK saved six per cent of their income in the first quarter of 2006, the highest shape since 2001The amount saved reached an unsurpassed high in 1979 of 141 per cent but fell back to an all occasion low in 2004"The good news is that family savings are on a steady trend upwards," said Halifax head of investments Peter Jackson

"Longer term, the UK wants higher levels of savings to fund the retirement plans of an ageing populationThe UK squirreled absent £129 billion in the first quarter of 2006, the highest amount since the final three months of 1997Over the course of the last year, UK savers have put absent £44

1 billion, an increase of more than 50 per cent on the year beforeHalifax claimed that the change in heart was as much to do with better terms available on the best investments account deals as a change in spirit of the UK, however"The increase in the savings ratio in part reflects the enlargement in regular savings products which have become so well-liked with savers over the past 18 months," Mr Jackson supposed"These products reward savers with very high tax of interest in return for saving on a regular monthly basis

"MoneyExpert incomplete is authorised and regulated by the Financial Services Authority (FSA register No 301654) The Financial armed forces Authority does not regulate some forms of mortgage agreement, credit cards, personal loans, current accounts and

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