The UK's savings grace

There is every danger the UK could be turning into a nation of savers with last week's IMA figures revealing the strongest savings into Isas for nearly a decade.

This could all simply be a reaction to the fact most people have realised times are going to be tough once the next government knuckles down to dealing with the deficit. However a more hopeful scenario is after years of living beyond our means the UK is finally sobering up to personal and national fiscal prudence. As IMA chief executive Richard Saunders pointed out when announcing the March figures: “Savings held in UK funds have topped £500bn for the first time, something that would have been unthinkable a generation ago. Isa sales for the last tax year are the highest since 2001-...