Budget 2011 – Savers Worse Off

Savers who were hoping for some relief with the 2011 budget have been left disappointed. The new financial year is unlikely to help people who have put money aside.

With inflation now 4.4% and the bank rates at an all time low, savers were hoping for something in the budget which would help them continue to save.

While the budget failed to help savers there was some good news. National Savings & Investments announced the return of inflation-linked savings certificates. This will mean savings are ahead of inflation because NS&I guarantee savings and investments will never be lower than the Retail Price Index.

 

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