THE TELEGRAPH: More than half of Britons support The Daily Telegraph's savings campaign, a new YouGov survey has disclosed.
A total of 58 per cent backed the Justice for Pensioners campaign, which is calling for a suspension of tax paid by pensioners on savings and dividends.
It comes as millions of pensioners have seen the return on their savings and share investments - which they have prudently built up for their retirement - plummet following consecutive significant cuts in interest rates.
While the Bank of England has reduced rates from 5 to 2 per cent from the beginning of October, the average rate on a one-year savings bond has been cut from 6.2 per cent to 3.8 per cent per cent during the same period, according to the personal finance researchers Moneyfacts.
Around 30 per cent of those aged 55 or over rely on the interest from savings and dividends from shares. >>> By Myra Butterworth, Personal Finance Correspondent | December 19, 2008
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