Newsgroups: uk.finance
From: David M 
Subject: Re: Banks deceive customers over interest rates
Archive: no
Restrict: no-external-archive
Date: Mon, 6 Aug 2007 19:25:58 +0100
Bytes: 1933

Tim wrote in uk.finance 
 about: Re: Banks deceive customers over interest rates 

> "Robin T Cox" wrote
>> http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/08/03/nbanks103.xml
>> http://tinyurl.com/2kyhdh
>> ...
>> With the retail price index running at 4.4 per cent, a
>> savings account needs to pay out a before-tax rate of
>> 5.5 per cent before a saver can make any real return.
>
> Shouldn't this little gripe be aimed more towards
> the government rather than the banks?  It's not
> the banks' fault that tax is levyed in this way...

Indeed, why do we have to pay tax on our savings in the first place?
The money has already been taxed when we earned it in the first place!
For the Government to take two bites of the cherry is pretty offensive.

The Government allegedly encourages us to save, yet it has a pretty
miserable way of rewarding us for doing so..


-- 
David M. -- Edinburgh, Scotland. --[en,fr,(de) <-- corrections welcome]
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