Friday, 24 September 2010

The Bleedin' Obvious

The BBC have an interesting report today.

And of course, by interesting, I mean completely fucking ridiculous.

The report says that the total worth of Equity ISAs - the Government's principal tax-free savings product - has outstripped the total worth of Cash ISAs.

Equity ISAs, for the uninitiated, invest in company shares, corporate bonds, gilts (Government debt - plenty of that around!), property and other things like that. Cash ISAs are effectively tax-free bank accounts.

Of course Equity ISAs are going to produce higher fund values than Cash ISAs. If you didn't get richer from investing, no one would bother, would they?

I find it vaguely astonishing that the BBC find such a fucking obvious finding to be newsworthy. Part of my TV licence paid for that.

Brought to you by the BBC. The bell-ends.