British Savings Slump To New Low Level
* . Received Tuesday, 7 p.m. . LONDON, July 13. The national savings movcment has announeed that last weelt £3,379,000 more was takcn out of Post Offico banks, savings ccrtilicates and defence bonds, than was paid in. For thc third week in succession' Britain ;s savings have slumped jt'o a- new low for the year. A f ortnight ago they were down by £2,04(5,000 and three Aveeks ago by £1,145,000. For the first 14 weeks of the financial year there has been a loss of £1,653,000. This year may set up a new low record for savings for there are still three mouths of the holiday season to come and drawings on savings are ahvays heaviest at this time. An official of the ffiovement blame l high. prices and loss overtime working. "The only way most people can alford any luxuries these days," he said, ''in to dip into savings." Those who run the savings campaign fear, in addition, that the 4s 1 1 d weckJy now being taken from tlie wagc pahkets of 20,000,000 worlters for insurances, will in future be lost to savings.
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Chronicle (Levin), 14 July 1948, Page 3
Word Count
189British Savings Slump To New Low Level Chronicle (Levin), 14 July 1948, Page 3
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