Portuguese manage greater savings than Brits

People in Portugal save a higher percentage of their wages than those in Britain.

British savers, in fact, were found to be amongst the worst in the EU.

While Portuguese workers managed to put 13.5% of their salaries into savings, Brits managed just 9.9%, or just £9.90 out of each £100 earned, between April and June this year.

Both countries were still below the 15% average in the eurozone, according to figures from the European Commission.

In 2010, British workers were saving £13.80 for each £100. The Great Recession then showed no indication of letting up, but when the economy did appear to improve, Britons lowered the proportion they saved.

Some have pointed out that it also reflects differences in the generations, with society shifting from one of savings to buying on credit and incurring debt.

By comparison, French workers saved almost 20% of their salaries, or €19.89 for every €100 earned.

The rate was 16% in Germany, 15% in Spain, and 11.6% in Italy. Only Danish savers put less away each month, with the rate down at 7.5%.

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