Scotland tops secret salary list, banking customers learn

Mon, 14 May 2007

Scotland has emerged as the region of the country that is the least open when it comes to financing matters.

According to research from financial services provider Scottish Widows, 72 per cent of people north of the border admit they do not tell family members about the size of their pay packet.

By way of comparison, this proportion falls to 70 per cent in the south of England, 68 per cent in northern England and 59 per cent in London.

Mike Hoban, customer and brand marketing director at the financial services provider, pointed out the implications of the financing research.

"It seems that money is now the topic we avoid," he said.

"It's no surprise that the nation is under-saving and under-preparing for the future when money is clearly such an uncomfortable subject."

As many banking customers may already be aware, the Bank of England's monetary policy committee voted last week to raise the base rate by a quarter of a percentage point to 5.5 per cent.

The move means that many people with variable-rate personal loans now face having to stretch their pay cheque further to pay off increased repayments.

add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.