UK interest rates slashed to 3%

[bugaloo41]

Thats my ?2 savings gone then - no more interest.

[ianmac]

Got a 5 year fixed that's still got 4 years left to run..

[speric07]

The Government/Bank of England are ruining this country.

It is not right to penalize the savers as they have been doing. Also where are the government going to get the money from the taxes that savings give them? If someone earn't 100 pounds in interest they would pay 22% in tax so 22 pounds. With interest rates as low as they are savers are likely to get 50 pounds now and the government only 11.............. I know what they will do ....... they will borrow of course!

Had a fair bit of money in my bank account and have seen interest on my savings go from just over a tenner a month at 12% to less than a fiver now.

Now I move some of my savings to Poland ..... Take your money to Poland in the summer and you will get 6 Zlotys to the pound and take it back in the winter it's 4 Zlotys will get you a pound.

Last year did the following;

Winter 2007 :: 5000 pounds = 30,000 zlotys

Summer 2008 :: 30,000 zlotys = 7500 pounds = 2500 pounds (in 6 months) profit for doing nothing.

Just wish I had more money to play with!

[mickydibble]

The Government/Bank of England are ruining this country.

It is not right to penalize the savers as they have been doing. Also where are the government going to get the money from the taxes that savings give them? If someone earn't 100 pounds in interest they would pay 22% in tax so 22 pounds. With interest rates as low as they are savers are likely to get 50 pounds now and the government only 11.............. I know what they will do ....... they will borrow of course!

Had a fair bit of money in my bank account and have seen interest on my savings go from just over a tenner a month at 12% to less than a fiver now.

Now I move some of my savings to Poland ..... Take your money to Poland in the summer and you will get 6 Zlotys to the pound and take it back in the winter it's 4 Zlotys will get you a pound.

Last year did the following;

Winter 2007 :: 5000 pounds = 30,000 zlotys

Summer 2008 :: 30,000 zlotys = 7500 pounds = 2500 pounds (in 6 months) profit for doing nothing.

Just wish I had more money to play with!

sounds good but!!! this country is the way it is by investing our money elsewhere,by the way 50% in 6 months everybody would be doing it banks included..no disrespect.micky

[mickydibble]

another 0.5% off base rate today,who is giving the best deals?? anyone know...m