British people ''hiding cash under the mattress''
11/12/2009
Posted by Matt Gardner
The number of people who are hoarding cash under their mattress or in other key strategic hiding places around the house is on the rise, according to new statistics.
In a recent report from the Bank of England, it was revealed that the total value of notes in circulation has risen massively in the last few years, even though their use in transactions is falling.
The Bank explained that in particular, there are 40 million more £50 notes in circulation than two years ago, sparking beliefs that many people are stashing the cash in traditional places such as under the mattress.
It added that many are losing faith in putting their money in the banks, particularly after taxpayers had to bail out a number of institutions across the country.
Some people have had bad experiences hiding cash under the mattress; a woman from Tel Aviv bought her mother a mattress in June, throwing out the old one which contained life savings worth nearly £700,000, which was never found.
