Rachel Springall, a finance expert at Moneyfacts, said some big banks are paying rates as low as 0.01% – so savers may need to switch deals to find a reasonable return. Gallery: Social distance and empty spaces: UK life under lockdown (Photos) Following the rapid spread of coronavirus (COVID-19) throughout the world in 2020, the U.K. has been responding by implementing increasingly stringent measures over the last few weeks. Three days after ordering schools across the country to close indefinitely, Prime Minister Boris Johnson announced strict social distancing measures on March 23, which were extended a furtherthree weeks on April 16. These include a total ban on public gatherings of more than two people, the prohibition of travel other than for essential work and medical reasons, and that peopleare notto leave their homes other than to carry out one form of exercise daily. People sit on their doorsteps in Islington as the spread of coronavirus (COVID-19) continues, in London, England on April 5. A woman wears a mask as she jogs past a closed amusement arcade with her dog on a deserted Bournemouth promenade in Bournemouth, England on March 29. A man sits on a bus as people continue to socially distance themselves amid the coronavirus (COVID-19) outbreak, in Edinburgh, Scotland on March 26. A handout photograph released by the UK parliament shows the second reading of the Coronavirus Bill 2019-21 in the House of Commons, with MPs observing social distancing by sitting two metres apart, in London, England on March 23. Ms Springall said: “Savers will be disappointed to find that deals are being pulled left, right and centre, and this vanishing act is clearly due to the base rate cuts last month and uncertainties surrounding the Covid-19 pandemic. “Providers are perhaps struggling to sustain their lucrative offerings or are pulling deals because they have crept up the top rate tables unexpectedly, resulting in a domino effect of cuts or withdrawals.” She continued: “In light of this savings market trauma, it has never been so vital for savers to take stock of their existing account to be sure they are still earning a reasonable return.
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