300.000+ to invest and draw from the interest each month whats the safest and highest interest rate available

You should probably get some proper financial advice about your options. In the meantime you'll need to make sure that you split it between accounts with different banks so that you don't have more than £50k with each.

If you're happy to tie your money up then fixed bonds are probably your best bet for interest rates.

LittlePiskey's right, if you want low risk then fixed rate bonds are best. Check the monthly interest rates though, as these are usually slightly lower than the annual interest rates.

Just make sure you split it into £50000 chunks! That would be a lot of money to lose if one of the banks springs another surprise on us!It might end up being more hassle with opening/withdrawing from the accounts but it is worth it

The 50k protection will increase to 100000 euros ( about £80000 ) in December this year.
You really need to see an increase per annum of 3.5% reinvested so your money does not devalue over time.
Fixed rate bonds are a good safe option but interest rates are poor. If you go into bonds do a 1-2-3-year investment and when year one expires you buy a 3 year bond at the best interest rate on the market and so on. I would not invest all of the money in fixed rate bonds as with the low interest rates you are forced to look to stocks and shares ISAs, some could be invested in a corporate bond to which you would receive dividends at six monthly periods ( not taxable). You could buy ordinary shares in say AstraZeneca this pays 6 monthly dividends and are promising to increase the dividend payments to encourage investments