Statements like that generally assume that that's an investment adjusted against inflation or devaluation......looking at the interest rate alone on a currency is meaningless without the rest.
I said England specifically because I don't know of programmers who have moved to other parts of the UK, but you make a valid point. I hadn't considered the other countries of the UK.
I had a couple of job offers from companies in Glasgow in the past. I had a feeling that the local goverment must be subsidizing the tech companies in Scotland. The pay package was comparable to London. Cost of living looked a lot less compared to London. If you are looking into building cash reserves it might be ideal.
Yes "UK" is the correct term for the country. However London, the capital, is in England, is a large percentage of the UK population (about ~15 - 20million out of a UK population of about 60 million). The vast majority of the programmer jobs would probably be in London, so you might wind up going to "England" itself.
