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savers sacrificed to rescue the economy

Published: 12/02/2009

Daily Telegraph (Main) – 12th February 2009

  

Savers are going to bear the brunt of the Bank of England’s attempts to revive the economy, Mervyn King, the Governor of the Bank of England said yesterday.

 

As disclosed in the Telegraph yesterday, many current accounts at high street banks now offer better rates than savings accounts.  If £2,500 were invested in Alliance and Leicester’s current account, over a year savers could earn £120.88, according to price comparison website Moneynet.co.uk.  The same amount in an average cash individual savings account at 1.38 per cent would earn £34.50 tax free.

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Last Updated: 11-02-2012