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01 March 2006
The British public appears to be getting the message about sorting out their finances, if the latest ISA figures are anything to go by.
ISAs are the government's flagship tax free savings vehicles and a key part of the effort to get people borrowing less and saving more.
A sustained period of low interest rates has convinced many people to take on new loans and credit card debts.
While money is indeed relatively cheap, mounting bills have seen more and more people having problems with bad credit.
But figures for the last three months of 2005 suggest interest in savings accounts is picking up.
Purchases of investment trust ISAs were up 35 per cent on the final quarter of 2004, according to the Association of Investment Trust Companies (AITC).
These figures are encouraging, but AITC director general Daniel Godfrey cautioned that other savings vehicles had performed less well than ISAs.
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