UK savers concerned about future outlook
David Cameron the leader of the Tory party has been very vocal over the last few days in his belief that UK savers should be protected from falling interest rates and falling income streams. He believes the government should bring in tax relief on interest earned so that savers are able to maintain a steady income to avoid financial hardship.
This is the latest in a number of potential initiatives to increase the prospects for UK savers who by any stretch of imagination are now paying the price for those who built up debts over the last decade and are now struggling to pay them back. The government is yet to find a balance between stimulating the economy and assisting those in financial hardship against helping savers to maintain a steady income stream from which many depend upon for their everyday needs. If savers are dragged into financial destitution by interest rate reductions this will place further pressure on the government budget and plunge the UK deeper and deeper into debt.
What had the potential to become a difficult period for UK savers is quickly turning into a nightmare with more and more of the UK population seeing their income streams slashed as interest rates tumble.
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