Thanks for nothing

A YeAr ago, chasing the best saver rate, I deposited £10,000 with the Post Office knowing the 1.05 per cent interest rate included an introductory bonus for one year only and would then drop.

However, I was astonished to receive a letter last week telling me: ‘As part of our commitment to keeping our savers informed, I’m contacting you to let you know this bonus comes to an end on January 23 and from this date your interest rate will reduce to our standard rate of 0.0 per cent Aer variable.’

Zero! Is it any wonder that instead of saving, everyone is in debt up to their eyeballs?

the cycle of borrow and spend beset the economy until it crashed in 2008. We are heading down the same path and it will end in tears again. PETER TARRANT, Weymouth, Dorset.