Almost half of UK savers believe that money placed in bank accounts is not as safe now as it was last year, new research has revealed.
A new poll has found that 45 percent of people in the UK are of the opinion that their savings funds are less secure now than they were 12 months ago.
Channel 4 News at Noon commissioned ICM Research to carry out a survey that asked the public how safe they felt their money was in banks and building societies. It found that six percent believed their cash is currently better protected than it was in 2007, representing "a massive decline in confidence".
In total, 468 people took part in the poll, which came out as the government's £500 billion rescue plan for the UK's financial system was announced.
The move did not appear to allay a number of consumers' fears, with 16 percent still contemplating withdrawing their savings. A further 16 percent admitted that they had already removed some money from their bank accounts.
According to BBC News, Prime minister Gordon Brown said today (Friday October 10th) that it will "take time" before the global financial markets are adequately restructured and urged governments around the world to follow the example set by the UK in backing its banks.
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J E Maddams
10th Oct 2008 23:56
Panic solves nothing.
We need to be patient and exercise
confidence.
Perhaps we should nationalise the Banks Building societies and Insurance societies and bring them all under rigid regulation.
But certainly governments should arrest, intern, asset strip and shoot all known speculators, and all the fatcat CEO's, MD's, Directors and Financial officers who have stolen huge bonuses in cash or shares.
All such criminals must be exterminated
and their property forfeited to the Public finances.. There is no place for any of them on this planet in the future.
They deserve no mercy for risking the savings and the needs of billions of ordinary people.
Those who replace them should be forced to work on modest salaries
All billionaires and millionaires should by taxed at 95% on their capital and income. No individuals deserve such sums of money.
The rich capitalists should learn what it is like to live on the minimum wage.
Speculation must be wiped out.
