After lockdown, will the savers spend like it’s a new Roaring Twenties?

<p>Are we heading for another Roaring Twenties? After a year in lockdown, it appears the UK has saved quite a lot of money and now the Evening Standard’s Jonathan Prynn says we’re being encouraged to spend it.&nbsp;</p><p><br></p><p>Official figures reveal an unprecedented scale of cash piles have been put aside by households while “non-essential” shops, restaurants and bars remained closed for months and foreign holidays had to be put on hold. The latest data from the Office for National Statistics shows that the savings ratio — the proportion of disposable income put aside for a rainy day — rose from 14.3 per cent to 16.1 per cent in the last three months of 2020.</p><p><br></p><p>For the year as a whole, the savings ratio — which peaked in the first lockdown last spring — rose from 6.8 per cent in 2019 to a record 16.3 per cent. But will this new nation of savers want to give up its cash for the sake of the country’s economy?</p> &#10;&nbsp;<br /><hr><p style='color: grey; font - size: 0.75em; '>See <a style='color: grey; ' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>