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Is It Time To Look At NS&I?

The National Savings and Investment (NS&I) operation which sells an array of bonds and savings accounts which are guaranteed by the government has seen a massive rise in business levels with many investors deciding upon a 'flight to quality'. The move has seen gross sales for the last financial year grow by 9.9% to hit £15.5 billion, pushing the NS&I well ahead of its internal targets.

Those who follow the NS&I will know that the agency stopped actively marketing products last year after it became apparent that it was going to overshoot its financial targets. NS&I has over 28 million customers who between them have over £85 billion invested in the government backed accounts and investments.

As NS&I is used as a funding vehicle by the government it will come as no surprise that this cheap source of finance saved the government £375 million in borrowing costs last year, up from £337 million the year before. Even though the agency has attempted to take its foot of the gas there are signs that demand is growing with people looking for security for their investments as oppose to the best rates on the market. What will the authorities do this year if the NS&I overshoots its financial targets yet again?

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