The pressure on family budgets has been laid bare as a report finds that six million people in Britain have no savings.

The research by National Savings & Investments (NS&I) suggests the squeeze on household budgets as a result of higher inflation is to blame. Its study also found a third of Britons would not have enough cash tucked away to cope in the event of an emergency and a quarter of the population expect to save even less in the coming three months.
The Government-backed lender found that on average people set aside £100.24 - or 8.3% of their monthly income, with men saving a little more than women. There are encouraging signs among the young, with many more 16-24 year olds committed to saving than the 35-44 year old age group. That finding backs the theory that those facing the biggest bills are coming under the greatest strain.

The latest official figures from the Office for National Statistics showed the savings ratio - the disposable income left after consumption - fell from 5.1% to 4.6% in the first three months of.....Read more on this story: Biz Briefing: Sky News Top Business Stories On British Savings, Public Transport, Betfair Results | Business | Sky News