According to statistics just released by the Nationwide UK (Ireland) Savings Index, fewer people put money away this month than at any time since the month of August 2013.
Discontentment with Government policies seems to be the chief cause of such drop, since people think it is a bad time to make contributions to their savings.
According to the figures released, the overall index dropped to 94, a fall of 20 points on the previous month. This index measures the costumers’ sentiment towards saving money.
Brendan Synnott, managing director at Nationwide UK said that the planned introduction of water charges has reflected negatively on the public sentiment and their inclination to contribute to their savings.
The proportion of people who believe that now is bad time to save has risen to 40%, up from 36% the previous month.