State capitalists

Issue section: 

One of the questions on certain people's lips as a result of the economic crisis is, "Where should I put my savings?"

If your bank goes under you are insured by the government's Financial Services Compensation Scheme for up to £35,000 (although the scheme has never been tested before, nor does the fund from which the compensation is to be drawn actually exist yet).

So where should you place your millions in these uncertain times? "Shovel it all into the government's bank, Northern Rock," says Merryn Somerset Webb, ex-stockbroker and editor of Money Week, in the Financial Times. "Getting a 100 percent guarantee on up to £250,000 plus a chart-topping 6 percent return on your money seems too good a deal to pass up." And if you've got more than £250,000? "Don't forget about gold."