06 June 2012

Savings stamps

When I was a boy in the 1950s, I was inculcated into the habit of saving by buying savings stamps from the Post Office.  These could be bought at a relatively low price and stuck on a card, to be redeemed later when the card was filled up.

(I always thought it slightly unfair that Prince Charles was valued rather more highly than Princess Anne, but then I never really understood the virtues of primogeniture.)

Anyway, the point of this digression into the glories of the 1950s is that Slasher Osborne wants to revive national savings:

George Osborne is drawing up plans to use Britain's army of small savers to boost the country's growth prospects.
The Chancellor has told Treasury officials to find ways to persuade savers to transfer billions of pounds held in bank accounts, building societies and investment funds to new government "growth bonds".The money would be invested in infrastructure projects such as toll roads, green energy and housebuilding.
Savers could be offered tax breaks, similar to those available in Individual Savings Accounts (ISAs).

The question you will need to ask yourself is this:  Would you trust the Slasher with your pennies?

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