 Savings |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
![]()
While the Bank of England has faced the dilemma of how much funding assistance to give to the UK markets without allowing backs to benefit directly, this situation is now being replicated in Europe...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
| |
|
|
|
|
Friday 2nd November 2007
The amount of money saved in Individual Savings Accounts (ISAs) has now hit £208 billion, according to recent figures from HM Revenue and Customs (HMRC).
ISAs have experienced a significant increase in value in recent years, now worth a total of £29 billion, seven times more than in April 2000, and almost as much as is on credit cards and other debts, excluding mortgages.
ISAs have grown because of investment return on the cash accounts and the stocks and shares in which money has been invested and also because of the new funds invested each year.
According to Alliance & Leicester, Britain's savings have almost doubled since 2000 and they also predict that this trend will continue, expecting personal cash savings to grow to around £1 trillion in the next five years.
Ewan Edwards, head of savings at Alliance & Leicester commented: "Five years from now Britain's savvy savers are likely to have over a third of their cash savings in tax efficient accounts such as ISAs - a massive increase from five years ago, when just a seventh (14 per cent) were sheltered from the tax man in this way."
|
→ Full Savings News Archive
→ Return to Homepage |
|
|
|
| Other top stories in this section:
|
|
|
|
.gif)
