Monday, 19 July 2010

Gold Rush?

I see that National Savings has pulled its index-linked products:
Experts yesterday accused the Government of punishing the responsible behaviour of savers as it battles its own deficit.

Andrew Hagger, of personal finance website said: “It’s another door slammed in the face of savers.

“Consumers who have been increasingly relying on the one sure fire way of protecting their nest egg from inflation will be dismayed that the government has without any warning, pulled the rug from under their feet.”

I had an enjoyable run-in with a socialist worker activist in Princes Street a week ago. He asked me to sign a petition against the "Tory Cuts". I said that unfortunately there weren't any such cuts. He said that the cuts were 25% per year. I countered by saying that he should have said 25% over four years but that was outweighed by continuing additional spending elsewhere. The debt is still rising, albeit at a reduced rate than under ZNL. He refused to believe me.

And now National Savings are stopping the sale of index-linked savings. Fortunately I switched some cash into them a couple of weeks ago from a deposit account that now pays 0.5% pa. Inflation's coming folks.

1 comment:

David Farrer said...

Comments made on previous template:

george davie
Can I draw to your attention the following website?  -  
You may also be interested in the Scottish Parliament’s e-petitions relating to “The Saltire flag above Edinburgh Castle” and “The Wallace letter of safe conduct” -  
Can I also ask that individuals with an interest in Scottish democracy:  
1.       Visit  Newsnet Scotland and join in the debate  
2.       Sign the e-petitions on the Scottish Parliament’s website  
3.       Pass on this communication to 5 others AND ask them to pass on to 5 others 

30 July 2010, 11:44:24 GMT+01:00
– Like – Reply

Colin Finlay
Apologies, DF, for the comments which you chose to excise.

22 July 2010, 10:38:22 GMT+01:00