Savers, investors, shoppers and homeowners have experienced widely-varying fortunes since the global credit crisis hit Britain five years ago tomorrow with a run on Northern Rock.
The former building society failed to weather the storm – indeed, none of those that became banks a decade earlier remains independent today – but one asset class has continued to shine as economic clouds gathered. Precious metal prices have soared, with silver rising by 233pc since September, 2007, and gold not far behind with gains of 220pc.
By contrast, the average cash individual savings account (Isa) rate has collapsed from 5.3pc to 0.7pc, according to the Bank of England – largely because of the Bank’s policy of quantitative easing – and the FTSE 100 index of Britain’s biggest shares trades 9pc lower than it did five years ago.
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