UK consumers are being pushed to go spend, rather than save, to help boost the recovery of the economy. This might be good advice if inflation were in check, unemployment was very low and the government was not about to implement any heavy duty budget cuts. The person telling people to spend away is Charles Bean. He is only the Deputy Governor of the Bank of England, so his advice is seen as sound and true to follow. He also has suggested using as much savings as you need to in order to get by. Combine that with using the equity in your home when necessary, and the economy should be raging in no time.

Those who have been disciplined savers are now being punished by the current interest rates. On top of that, inflation has created above average loaf of bread costs.

To say that many savers are angry is putting it very lightly. After all, they do outnumber borrowers by about nine to one.

Now these savers are being asked to slice some of their hard earned pounds to help revive the economy.

There are plenty of reasons to not take this advice to heart and try to save the country's future and instead save your own.

For starters, the future is just that, yours. The country will go through hard times, but you need to focus on building a good retirement, possibly remortgage your home to save some more money, or even look at an Isa.

Grant Thornton accountant, Mike Warburton, is one of several people to call Bean's comments "irresponsible". He said they contradict good sound financial advice.

Warburton commented further on Bean's comments, saying: "It is irresponsible for a man in his [Mr. Bean's] position to encourage a generation nearing retirement to go on a spending spree. As a baby boomer myself my preoccupation at the moment is to stuff as much into my pension fund as I can, cut my spending down and save what I can in the hope that it will compensate me for the falling value of my savings, as the paltry interest rates available fail to keep pace with inflation."