Bank joke of the week (they always do at least one) comes from David Postings, the CEO of UK Finance, a trade body.
The Government is offering an unfair rate of return on savings products, he complains. The best one-year fixed-rate bond from NS&I pays a tasty 6.11%. Such deals create “distortive competitive pressures for intermediate and specialist deposit-takers, who are less able to absorb the costs to compete”, posts Postings.
