A range of simplified, easy-to-compare financial products should be introduced to help restore consumer trust in the industry, a Treasury-commissioned review recommends.
A new savings account provider offering high interest is NOT protected by any compensation scheme, which means if it went bust savers would be likely to lose their cash.
The long-term retired are having to "knock lumps" out of their nest eggs just to get by, pensioners' groups warned today, as a report found saving pots for the over-75s have almost halved in the last two years.
A further £50 billion was injected into the economy today as the UK struggles to pull out of its double-dip recession and the eurozone debt crisis intensifies.