Low interest rates hitting savers

The eroding impact of inflation on hard-pressed savers means that £10,000 invested five years ago would have the spending power of just £9,016 today, a financial information website has found.

Moneyfacts.co.uk warned that 2013 has started as a "dreadful year" for savers, as it made its calculation, which is based on average rates of interest and tax at 20%.
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