Bank: Regular saver has ‘evaporated’

The regular saver who puts €50 or €100 aside per month has “evaporated”, according to the managing director of Nationwide UK (Ireland), Brendan Synnott.

“People with lump sums are locking them away, but the man in the street has been wiped out as a saver,” said Mr Synnott.

He said people are always more wary of saving in the run up to what they perceive will be a tough budget.