Death of the savings habit: As the amount we put aside falls towards a record low of 30p for every £100, how YOU can get back on track
Savers have given up putting away money for a rainy day, figures buried in the Budget small print reveal.
We are now setting aside just £2 out of every £100 of income, according to the government-run Office for Budget Responsibility.
That is a huge drop from the £6 per £100 at the start of last year. And it’s set to get even worse.
The official forecast predicts the so-called ratio will fall to £1.80 per £100 in the final three months of 2018 and halve to just 90p per £100 a year later.
It will then plunge further to a meagre 0.3 per cent in five years, meaning that just 30p for every £100... read more
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