33,700 Britons Hold £1M+ in Cash Despite Investment Incentives

Around 33,700 people in the UK have at least £1 million in cash savings.

This is despite investments like stocks offering higher returns.

The government is trying to encourage people to invest more by changing rules on savings accounts.

Many people prefer cash because it feels safer and gives them predictable returns.

However, cash savings can lose value over time due to inflation.

Investments, while riskier, have historically given better returns.

The government wants people to invest to help British businesses grow.

But many people still choose cash for its security.