Savers are still abandoned

Yes good old HMG launched the Pensioner bonds paying a whopping 4% interest

ABOUT TIME TOO - but Ok if you're 65 plus!

but what about the rest of us? Remember we funded the Banks bales out to the tune of £6000 per person and interest rates plummeted to 1% or less.

If HMG want money to pay for stuff (and they do) "borrrowing" it from us in the form of savings/bonds is ideal they could at least help us out for helping them out (the Banks) saving their bacon but plunging us into recession. It been the worst 5 year in my life don't know about you?

I 've been looking and most savings account pay around 0.5 to 1.5% at best and then you have to lock it away for years.

I despair but what can we do. Nowt will happen.

Austerity - How low can we go

Government is saving money by cutting - cutting benefits, cutting cash to Local Government, cutting Taxes! Oh yes that makes the Rich Richer!

How low can we go - do you need/want your local council services?

My council is considering cutting cleaners.

Taking all waste bins out of offices and putting them in corridors, staff will have to walk out to the corridor to put their banana skins/tea bags whatever in the bin. They'll need less cleaners, less bins to empty and it will be quicker and easier.

Saving money on cleaners. But aren't they the lowest paid? What about waste at the top? Chief officers etc.

This is a rich country but how low can we go to save money so the rich can get richer. Bankers still get their bonuses and who bailed them out a few years ago?

Building Societies feeling the pinch too?

I am so sorry for them, apparently the Building Societies are feeling the pinch too!

Don't you feel sorry for them? Mortgage rates at theri lowest ever and yet House sales are flat
 - I wonder why.

What did I say a few weeks ago? THis article in Money Mail, explains everything I was saying. 

I remember when Mortgage rate got to 15%! WE don't want that but stable (and low) bank rate is bad for Building Societies. They make their most "profits" on a steadily falling interest rate. They reduce the rate paid to savers immediately but fail to pass on the benefit of lower rates to borrowers for a month. Thus they gain from the borrowers with a bigger margin. If the housing market was steadily risingthen Buildinng Societies would feel safer lening closer to 100% LTV thus giving buyers a better chance to move up the market with smaller deposits required. Its not really the low interets rates that is the problem, great for borrowers so why is the Housing market flat? No confidence that prices will rise, and reluctance of the lenders to take a "risk" lending money.

Yes jolly old HMG can GIVE money (our money), to Private banks, (run for the profit of the Shareholders), who then go off and take massive bonuses and stop lending out to you and me, and promptly slash interest rates paid to us ggod folk who scrimp and save for our retirement (keeping this country afloat!).

So thanks Mr G.  Brown. I thought Labour were the party for the "Working man?" - silly me!

Government is hurting the Thrify who voted for them

Yes if you have any savings spend it before its worthless. Just like Germany in the 30s. We'll need suitcases of money to shop at the supermarket.

Seriously with low interest rates even low inflation - but that is higher than interest  - is eroding your nest egg.

I thought that the idea was that Banks/Building societies raised funds from Savers by offering them interest.

When they had the funds then they lent it out to Borrowers (mortgages etc.), they pay interest.

So providing you,  (Bank/Building Society),  receive more in interest than you pay out you are profitable.

Now we have another situation the Banks (Building Societies?) get “free” money from the Government to Lend out thus they don’t need savers money. But where does the Government get its money from? I guess us? SO actually this is a win win for the banks they’ve nothing to lose hence the Fat bonuses.

It’s about time the government was told by US that they must stop and go back to the old system. If interest rates were raised then Savers would save and the money would be there to lend out. Remember the interest paid is TAXED so the government gets a cut too.

Pensioners now have to support this economic mess by giving up their winter heating

OK Mr Balls take away any final benefits that pensioners have and what have you left? They might as well Q up for euthanasia - that would help wouldn't it? I think it may lose them some votes. I hope so.

Pensioners have worked all their lives and saved for their retirement and if they were good enough have good pensions but now they have to pay it back.

Its bad enough you hardly get any interest on your money. It used to be that Banks and Building societies paid interest to savers to get their cask so they could lend it out. Not any more, a) they don't lend any more just pay themselves big bonuses, b) what they do lend has come from the Government - our taxes at ludicrously cheap rates so why bother with Savers. CRAZY.

Scrapping free bus passes won't save any money. They don't actually cost anything unless you USE them and most wealthy pensioners have cars.

pensions 4 everyone 2

I said it on 2nd Oct:-


Lets just hope G Osborne  and D Cameron  sort out the mess over charges and how you "take your pension" with you. 

At the  end of the day unless its a very good company scheme only the Bankers win - AGAIN

Didn't I say it and now the Daily Mail agrees with me.

The Government MUST regulate these pension schemes and stop the Bankers from getting rich quick on poor people. They are gambling with peoples only hope for the future. They take their whole lives to save any sort of pension, these bankers make that much bonus in 1 year! There must be certainty in pensions and a guarantee that you can take it with you without loss if you move jobs.

Now in a letter to the Daily Telegraph these organisations agree with ME, the National Association of Pension Funds (NAPF), the TUC, charity Age UK and the consumers' association Which?.

So you heard it first from Monty.

Pensioners cough up to save economy

So Mr Boles thinks Pensioners should not be immune from the cuts and sacrifice their "benefits" to save the economy?


What planet is he on? Again we have these misguided millionaire MPs with no clue about the real world. You try living on £140 a week for 2 people Mr Boles and see what sacrifices you can make to save GB?


Basically if you've worked all your life, . Saved a bit paid into a pension then retired you at least expect to be able to "enjoy" life what it is. What is there else to look forward to if then HMG looks at your income and decides to slice some more off - remember I said "paid your Tax and NI". Since when do you have to pay twice? Surely its the millionaires who should be on double tax!! Just now you're lucky to get 3% interest on your money so to keep going they have to did into their savings - where will it end. Cameron etc wants us to work longer, pay more and then get less! Don't forget the MPs haven't sacrificed their gold plated pensions just yet.


Conversely those who don't work or save nowt, no pension, retire, what do they get taken off them - NOTHING. They get ALL the Benefits - that is just not FAIR.


Pensioners did NOT cause this crisis. Look at the Billionaire Bankers with their Billion pound bonuses. TAX them at 80% to get things sorted.