Monday 17th July 2006
Brits are saving more now than at any point since 2001, according to a new report.
A study by Halifax has found that UK residents saved six per cent of their earnings in the first three months of the year, the highest percentage for five years.
The figures are the culmination of an increased attention to pensions since savings fell to an all time low in mid-2004, but are still some way off reaching the long-term average of 7.8 per cent.
"The good news is that household savings are on a steady trend upwards," commented Halifax head of savings Peter Jackson.
He added that financial products that reward saving have helped boost the figures as much as a change in attitudes.
"The increase in the savings ratio in part reflects the growth in regular savings products which have become so popular with savers over the past 18 months."
The current figures have some way to go to before matching the record 14.1 per cent mark posted in 1979. 
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