Having savings, or rather, actually saving, is not an issue of class or income. I have professional clients earning well into six figures who spend every penny servicing their mortgages and credit cards; others, who’ve saved £1m, have never spent more than £200 a week in their working lives. Of course, many millions can’t afford to feed themselves, let alone save. For them, blame a heartless government; for the others, sorry, it’s probs the parents.
“FCA proposes basic savings rate for cash accounts”
It’s not a big step from the imposition of a minimum interest rate to the recently-much-discussed idea of providing a the same, State-paid tax-free salary for everyone; from Elton John and David Beckham to their chambermaids’ unemployed younger brothers (see Utopia...