Latest Moan From You and Me 2024

A year ago NS&I one year bond was at 6.2%. Just missed out on that, but still have a 5.4%, which is good. Of course this may be taxable.

 

Why is it that you get it in the neck for saying about something to someone which is about to happern which they wouldn't have nown about untill it happerns and can make thier day alot less hassleable

I tryed to be helpful but i'm the bad person wow this country is bad and getting worse, next time i'll keep my big mouth shut and people can HAVE the hassle (where is the 2 finger emoji )

 

I was really referring to the speed of change compared to the base rate.

Slow to rise but fast to come down.

 

It's noticeable that lots of providers have better rates for easy access than fixed term accounts at the moment. That means they expect interest rates to fall and they don't want customers locking in on, say, 4.5% now. On the easy access, they can drop the interest rate at whim, which suits them.

 

Not many 5 year fixed rate terms about tells you a similar story. You also have to wonder if RR will tinker with savings in the budget.

 

To whom and what did you say?

 

She might cut tax relief on ISAs.

I don't think they like savers, no governments seem to these days, they just want you living from day to day.

 

I think it is a bit more complex @pete , like wanting investment (spending) and to raise revenue. Who knows what way they will jump as we have a problem with spending in the country as we don't have the right people in the right places to do the work. The markets are a bit like the bookies and nearly always get it right. I would be surprised if she increased ISA allowances, but not so much if she scrapped them going forward. Perhaps we need to be like the funds and hedge our bets - those that still have any money to do so that is....

 

One thing this govt appears to be making clear is "don't bother living within your means or saving for your old age ".
They want both investment and spending to rise but fail to explain how they plan to accomplish this.
All they seem to be interested in is endless House Building but without a thought for the accompanying infrastructure that is needed to support it.
God only knows what planet they are living on..........certainly not this one anyway.

 

The thing they always fail to miss is that in general, to raise spending you have to give people more money to spend in the first place.

There is only so much money to go round and it appears its not enough.

I can remember when the banks and the building societies used to like their investors, but not these days, because they can get more money out of borrowers.
I dont think they value investors anymore.

 

Money in ISAs is squirrelled away, so not circulating in the economy and, worse from the POV of RR, protected from tax. I think she might put an upper limit on how much you can have in them. Say £100,000, ie 5 yrs of max saving.

 

Well I thought the money in ISAs was used and invested in companies etc. Stock market.

Its only squirreled away by the individual not by the people you have the ISA with.

 

Oh, yes, that's what I meant. If I put money in an ISA, I'm not spending it on the High Street ... or ebay!

 

Even with cash ISAs (and other cash savings), the money isn't just sitting there in the bank. Banks/building societies use savers' money as part of the capital that they lend to borrowers. Which is why if everyone withdraws their savings at the same time, they have a big problem. Remember Northern Rock? Not that long ago.

 

The money isn't just sitting in the bank........quite so...........bank robbers and safe breakers must be having a hard time of it lately