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Article: CONSUMER'S VIEW.(National Savings' returns)(Brief Article)
- Article from:
- Money Marketing
- Article date:
- February 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The returns offered to investors by National Savings are now so low surely it is time for the Treasury to take stock?
Last week, National Savings published figures showing that sales to the end of November for financial year 2000-01 were [pound]7.9bn, with a total invested of [pound]63bn -- a 20 per cent rise on 1994-95. No doubt, National Savings officials are pleased with themselves.
But while Government regulators quite rightly castigate financial institutions such as the banks and building societies, for playing on investors' apathy or lack of sophistication, paying ever decreasing returns to holders of old or obsolete accounts and not informing ...