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Ernie milking it

We learn this week that some 40 per cent of the British public own premium bonds as the concept reaches 50 years of existence, with some 32bn – for want of a better word – invested. Yet as we contemplate what the NS&I press office claims to be one of Britain’s most successful financial products, we can’t help thinking what a pity the 32bn was not invested in pensions. This might be a little more earnest than Ernie but arguably a better use of the money.

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