Government has changed direction on savings

  By Business Editor David Murphy Funny what a difference a dozen years can make. In 2001, former Finance Minister Charlie McCreevy introduced SSIA savings accounts in which the Government contributed €1 for every €4 from depositors. In those days the State wanted people to save more – but now as there is less disposable income it wants them to save less. Keeping money on deposit has become much less rewarding as interest rates have been steadily lowered by the …