The report claims that Britain's current savings policies favour those who already have significant wealth. 'Our myriad of savings policies are set to cost the Government £7 billion next year as interest rate rise, with the lion's share going to rich households. 'Spending over £2billion on those with Isa savings of over £100,000, while 750,000 families have no savings at all, is not what a good use of Treasury resources looks like. 'Our myriad of savings policies are set to cost the Government £7 billion next year as interest rate rise, with the lion's share going to rich households. 'Spending over £2 billion on those with Isa savings of over £100,000, while 750,000 families have no savings at all, is not what a good use of Treasury resources looks like.

Source: Daily Mail January 16, 2023 17:57 UTC