Savings: Ideas to deal with high inflation and low interest rates

Our savings are under attack at the moment, historically low interest rates, combined with high inflation is eroding the capital of many savers. A typical saver, paying basic rate tax, and investing £50,000 in the best one year fixed rate will see the real value of their savings fall by £866 this year if inflation, using the CPI measurement, stays at 4.5%. Even for non tax payers or Cash ISA investors very few accounts offer an interest rate which beats inflation, for basic rate and higher rate tax payers the situation is dire, no accounts currently offer a rate of ...