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| UK Spotlight |
News that Alex Salmond, the leader of the ruling SNP in Scotland, has been somewhat liberal with his recent comments about housing budgets and assistance has caught the attention of opposition...
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Saturday 12th July 2008
Unlike the Prime Minister there are many people in the UK who saved up substantial nest eggs in the recent boom times although many are now finding it very difficult to keep hold of their savings. Reports in the financial press have suggested that mortgage payments, credit card bills and the general cost of living are seeing more people dipping into their savings. But what happens when their savings have disappeared?
The hope of the majority of the UK population is that the economy bounces back very quickly and they are able to begin replenish their depleted savings before they hit rock bottom. Unfortunately, as the cost of living, mortgages and now running a car continues to rise there seems little chance of a short term turnaround, leaving many savers to wonder where it all went wrong.
The ironic thing is that it is the UK government which is catching all of the excess income in the form of increased taxation. So the government which did not save when the economy was booming is now penalising the very people who did save in the good times. Politics is a funny old world, but finance is even stranger! |
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