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Should UK savers be asked to bail out the UK economy?

Over the last 24 hours the Bank of England has indirectly issued a number of potentially controversial comments regarding UK savers and the fact that they should be spending their savings rather than looking to the future. This comes during a period that has seen UK savers put under extreme pressure, feel unwanted and ultimately many have had to dip into their savings to get by. At a time when UK base rates have remained at 0.5% more than 18 months is it right that UK savers are now expected to dig deeper to inject more capital into the UK retail market?

It would seem more and more that the UK government and the UK regulators are condoning additional spending at a time when budgets in the UK are being stretched to the limit. Once the recession is over and we see the financial mess it has left behind, how will the UK government react when pensioners and those approaching retirement require more funding because they have had to spend their savings in the short term to survive?

The UK savings market has been decimated over the last two years and those who have saved for their future have been crippled by the credit crunch and the UK recession. The fact they are now being asked to dig deeper and deeper is a reflection of the difficult situation in the UK regarding the economy and its immediate future.

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