Hi Glen
Have you sobered up yet
You are of course correct that interest rates and inflation follow each other - but if you are not living here you gain one without losing on the other. I am unsure about the true inflation rate, things certainly don't seem to have gone up 20%+ across the board over the last year (apart from houses of course).
Banks offering 60-70% interest on savings do exist, but they are very risky. The idea of a UK bank going bust seems incredibly unlikely, but in Turkey it is not uncommon. The main banks here may offer lower rates, but they are underwritten and an altogether better idea.
Scunner
Financial Advisor to Nick Leeson