Brits now saving more than spending - IFA Promotion

According to IFA Promotion, figures from its ‘savings brake’ report show 83p is borrowed for every pound saved, a figure, compared with 124p borrowed for every pound saved during the same period last year. The latest savings also represent the highest figure in four years. IFA Promotion says a rise in interest rates has contributed towards an increase in savings at the same time as pre-Christmas sales indicate there is less spending on the high streets this year. David Elms, chief executive of IFA Promotion says: "It’s heartening to see that savings are outstripping new borrowing a...