Make the minimum savings rate 2%

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Make the minimum savings rate 2%

Additional Information

Every year savers do not earn £12 bn a year on their savings. This is because the term of the savings plan has expired and they are put onto the banks or buildi gs standard rate for the account. This is normally less then 0.5%. By making the minimum standard rate 2% savers could potentially be £5 to £6 billion pounds better off and the treasury could earn billions on income tax. Savers should also be encouraged by the government to ensure they are getting the best return on their savings.

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