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Are UK savers being ignored again?

Despite suggestions from the UK government, with no guarantees, that savers would be "looked after" in the forthcoming budget this subject appears to have gone very quiet over the last few weeks. There are now concerns, again, that the UK government is pushing the problem of UK savers further and further down the list of things to do. So what exactly can and should savers expect in the short to medium term?

There is no doubt that savers in the UK have suffered a dramatic fall in incomes with base rates falling from 5% down to the current 0.5%. The indication that rates could fall further in the short term offers little respite even though political parties have been using them as a "political football". The possibility of tax relief on a portion of savings income appears to be the favoured method of assistance but will Gordon Brown actually do something?

The main impetus for any change by the UK authorities could well be the constant haranguing of the UK authorities by David Cameron on behalf of savers. He has been suggesting for some time that a Conservative government would introduce a tax free allowance on savings for those of a certain age. As it is the older members of the population who have suffered greater over the last few months, this would seem to be a very popular suggestion.

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