Economic conditions are turning the UK into a nation of short term savers or preventing us from saving at all, according to the sixth Savings and Investment report from Scottish Widows. The report has identified a ‘Risk Triangle’ of groups of financially vulnerable Brits, made up of parents of children under 16, divorcees and people in their late thirties. A third of this ‘Risk Triangle’ are more likely to be failing to save, with many doubting that their savings would last a month if they were to lose their job. Lending to children has increased by almost a third since the financial downturn, with the average amount of money given or loaned to children and grandchildren in the UK now £12,846.

Iain McGowan, Head of Savings and Investments at Scottish Widows, hosts a webcast at 12:30pm on 29 March to discuss the key findings from the Scottish Widows Savings and Investments Report 2012 and to highlight the tax breaks available to investors that can help them start saving for the future.