The UK has bank base rate at 0.5%

This is a stunningly low figure.  It castrates anyone who is on a fixed income based on savings deposits.  Pension?  What pension?  And the Bank of England is going to buy up £75,000,000,000 of commercial debt to try to get money moving again!

I wonder, though.  Isn't the real idea to get us to spend our savings?

The only point in having savings now is to "have them" because you earn zilch on them, so it looks to me as if the government wants us to open our wallets and spend, spend, spend.