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Britons' Savings Relatively Stable: NS&I Survey

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Britons' savings remained almost unchanged this year despite severe economic conditions, a survey showed Friday.

The proportion of income put aside as savings decreased slightly to 14.22% in 2009 from 14.83% in 2005, the National Savings and Investments said.

The savings behavior survey of more than 50,000 people over the last five years revealed that London and Scotland have consistently recorded high levels of savings, while the South West and North East have struggled.

"Many regions have established strong savings behavior over the past five years and the New Year is the perfect time to evaluate the amount of money you are setting aside each month and consider setting savings goals," NS&I's savings spokesperson Tim Mack said.

More than half of the London population said they set money aside on a regular basis, more than anywhere else in Britain and higher than the national average of 47%.

(Market News Provided by RTTNews)

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