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Households recieve less net interest
grizzly1911
Posts: 9,965 Forumite
Interesting statistic courtesy of Trustnet.
How come we have a problem?
Shaun Port, chief investment officer at Nutmeg, says investors will continue to feel pressure on their savings, in spite of the tax breaks.
"Before the financial crisis, households received about £14.7bn per year more in interest than they paid. Since the crisis, they have received a net £3.2bn per year less," he said.
How come we have a problem?
Shaun Port, chief investment officer at Nutmeg, says investors will continue to feel pressure on their savings, in spite of the tax breaks.
"Before the financial crisis, households received about £14.7bn per year more in interest than they paid. Since the crisis, they have received a net £3.2bn per year less," he said.
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
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Comments
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Demise of Icelandic banks offering unsustainable rates?0
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Thrugelmir wrote: »Demise of Icelandic banks offering unsustainable rates?
Cypriot banks still offer 6% or did last time I looked.0 -
With the Bank currently offering a "risk free" deposit rate of an eye watering 1/2 percent why would anyone lend elsewhere :eek:
The disconnect between the Banks Base Rate, and commercial Banks operations is probably wider than it has ever been.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
They are going to have to double that now... Who will risk their cash with the risk of a 10% fee?
Their financial services industry is finished.
TBH I think that's the idea, I think France and Germany want to destroy everyone else's financial services so BNP, Deutsche and Soc Gen (no relation) can take over.0 -
You can read that quote two ways:
One says interest rates have fallen (is that news)
The other says the average household is paying a small fortune in debt interest, BUT little of it gets back to the households with savings? The difference getting "stuck" in the zombie banks ?0 -
Arguably £0.5bn of lost tax revenue and £2.7bn of lost consumption too (with associated taxes).
A drop in the ocean I know."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Banker v debt r!!!!!!d zombie sheeple ?0
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