Financial Times FT.com

Higher rate savings hit

By Alice Ross

Published: July 18 2008 18:26 | Last updated: July 18 2008 18:26

Higher rate taxpayers are finding it harder to get a good rate of return on their savings as inflation continues to rise and experts warn that higher rate savings products are being withdrawn.

With figures revealing this week that consumer price index inflation hit 3.8 per cent in June, higher rate taxpayers will now have to achieve a gross rate of return of 7.67 per cent just to keep pace with inflation, says Defaqto, the independent research company.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this