moneysupermarket.com comments on the launch of independent action group, Save Our Savers

Commenting on the launch of independent action group, Save Our Savers, Kevin Mountford, head of banking at moneysupermarket.com said:

"At moneysupermarket.com we aim to educate consumers about the need to save and secure the best deals in order to make their cash work as hard as possible.

With this in mind, we welcome the formation of a savings action group and hope that it develops the clout to make a real difference.

"Prior to the economic downturn we were regularly reminded of the need to save for our future.

Since then however the political focus has shifted with the Government keen to find ways to get the tills ringing, and yet as credit tightens the only way this can truly happen is by consumers parting with their hard earned savings.

"During this period we have seen Base Rate plummet to an all time low and it feels that savers, in particular those who no longer have a mortgage, have been let down.

"Recovery from the economic crash will be driven by cash and not credit, and going forward we are going to need a cultural shift whereby we start to save for both the desirable things in life and for the long term future.

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