UK saves record amount – but can't stop borrowing by Finance News Bulletin

Published: 03/01/08

The UK banked a record amount of investments between April and June of this year new information have shown, with some £386 million put away for a wet dayDespite the record figure, the IFA Promotion account also noted that debt remains far above the ground – suggesting that people are putting money away while being charged interest on loans"This novel allegiance to saving is all well and good, but only if we show equal commitment to controlling our debts," said IFA endorsement boss David Elms

"populace are beginning to take heed of repeated calls to start saving but seem to be eliminating expenditure and borrowing behaviour from their budgetary considerations"The simple information is that if we don't discontinue borrowing money, the positive effects of economy will be negated"The UK borrowed 48p for every pound saved between April and June, up from just 16p on loan to every pound saved in the first quarter of the year"This district's results therefore only go to show that the economy is in a state of flux and that a levelheaded budgeting mantra is yet to be embedded in the British psyche," said Mr Elms

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