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As Gordon Brown urges the rest of the world to follow his lead and pump billions of pounds of tax payer’s money into the banking system you could be mistaken for thinking that he has gone from zero...
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Friday 11th July 2008
Over one in ten Britons have used savings to meet their mortgage or rental costs in the past three months, the Chelsea Building Society said today.
According to the firm, 12 per cent of people have dipped into their savings accounts in this way - along with a further 13 per cent who used them for day-to-day costs such as for food.
Moreover, 15 per cent said that they had taken out savings to pay for council tax or utilities bills.
The overall amount put into savings accounts has therefore dropped by 13 per cent on average - falling from £203 to £179 per month.
Food price rises in particular have been marked as a concern by those polled by the Chelsea - with 66 per cent saying that they had noted the difference in costs over the past three months.
Around 80 per cent also said that they expected them to rise further in future.
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