A to encourage post-war Britons to save is finding new fans among high earners keen to cut their tax bill. Premium Bonds, which award tax-free sums to holders at random while preserving their initial capital, were launched in 1957 with a top prize of £1,000. Over the years the jackpot has risen to £1m ($1.3m), but many investors hold the bonds expecting that a combination of smaller prizes, which start at just £25, will generate a yield comparable to that of regular government bonds.
