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Britain predicted to keep saving

Britain predicted to keep saving

Experts have predicted that Britain’s shift into a nation of accidental savers will continue during the third national lockdown. Close to £17.5bn a month was saved into current and savings accounts each month between March and June 2020, while households collectively added another £17.6bn last November. “I'd be surprised if the savings ratios for the last three months of 2020 and first three months of 2021 did not remain in the high teens”, Simon French, chief economist at investment bank Panmure Gordon said. Alistair McQueen, head of savings and retirement at Aviva, echoed his view, saying: “Assuming the third lockdown ends in March, I expect we will see a continuation of the recent spike in savings and fall in debt.”

Read more: Daily Mail


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