Money expert flags savings accounts to consider amid

“Let’s be honest, the interest rate right now, because it’s so low, is not going to be the difference between you getting to your goal or not,” he said.

“So if you want to get to £10,000, it’s going to be based on how much you put in with the way that interest rates are right now.

“The economy is not in a good place and the government want to encourage us to spend so they’re not going to increase, and the bank will be encouraging us to spend, so we can spend our way out of the deficit and where we are at the moment. And that helps businesses and so forth.

“So the plan is keep interest rates low, so you think well, I’m not getting anything in the bank, I may as well go on holiday. That’s what they want from you – but I’m saying don’t do that.