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On the eve of what is sure to be Alistair Darling's most important political statement there is speculation and counter speculation about how he will address the situation of the UK economy next...
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Friday 15th June 2007
About 55 per cent of Britons have no financial plans for the future and a further 32 per cent have no concrete plans for their finances, according to National Savings and Investments' (NS&I) quarterly savings survey for spring 2007.
The report states the reason most regularly cited for not saving money is that people expect to be earning more in the future.
Dax Harkins, senior savings strategist at NS&I, said: "It is a real concern that such a high percentage of people haven't made a financial plan for their future, and even more worrying that a significant number are basing their financial security on their future earnings potential."
He added there was no guarantee that earnings would rise as people grew older and urged Britons to start saving and planning for their future as soon as possible.
The report states that women take the greatest risk with their financial planning. About 61 per cent of women say they have no financial arrangements for their future.
Furthermore 70 percent of widowed, divorced and separated women have made no financial plans, putting them in a "high risk group".
The survey also shows that 12 per cent of people do not have any savings at all while 21 per cent of people have put aside less than £1,000.
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