Increased savings protection

It is becoming increasingly likely that the UK government will increase the protection limit given to savers from £35,000 to £50,000. The increase is felt necessary to try and calm concerns that savers may have about the security of their cash.

The move comes on the back of the Irish governments decision to guarantee the safety of all savings in 6 of its main financial institutions for the next 2 years. This is seen by some in both the UK and Europe as giving the Irish institutions an unfair advantage over other financial companies in other countries.