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Saving rates plummet

THERE has been a sharp drop in the number of people saving. Water charges and the attitude of the Government to people putting money aside for a rainy day have been blamed.

New survey results show that the proportion of householders who are saving is now around one in 10.

This is the lowest level in around 10 months.

The proportion of people saving regularly decreased to 32pc, the lowest level since August 2013, according to the Nationwide UK (Ireland)/ESRI Savings Index.

Herald