Save our Savers

Save our Savers campaigns for greater prudence in the wake of the financial crisis and the challenge to credit-funded consumerism. It lobbies policymakers on the need for greater protection for savers and wants the government to recognise the ethical significance of saving for the future.

GREATER RESPECT AND PROTECTION

SOS was formed by ten people, including a parish priest, a life peer and a former IT director, and launched on January 26. It has been set up as a commercial company rather than a charity, and has thus far raised its money from private investment. Joining and supporting SOS are free. At the heart of the campaign are three core beliefs: that pensions must be protected and "provide a worthwhile return when you retire;" that the government must ensure that it achieves "a positive long term return" from its investments; and that "successive governments have obstructed, neglected and at times directly attacked the interests of responsible savers."

HARD TIMES

The launch of the Save our Savers campaign comes at a particularly difficult time for savers. Inflation rose to 2.9 % in December while many people believe banks and building societies favour mortgage borrowers over savers. The absence of a collective voice speaking up in support of savers led directly to the formation of this group. SOS believes "that this country's savers embody the very best of British values as resourceful, entrepreneurial and independent people."

SOS ONLINE

The nicely designed site gives you all the information you need to get up to speed with the campaign. There are reasons to save, a feature on how the campaign feels the government has failed the public, and a petition the group intends to take to Downing Street. There's also a diary of SOS events, a separate blog site and an archive of reports on issues around saving. That doesn't contain much at present but will no doubt grow very quickly. 

12 February 2010