Savings Interest Rate Increase

fergal007

I have an epetition at 10 Downing Street epetitions. The petition is asking the government to significantly increase interest rates for savers at government owned banks such as HBoS and RBS and their subsidiaries.

I'm not allowed to post a link here, but if you go to epetitoins a 10 Downing St and type in John Keatings, it will take you straight to the petition.

Thanks

Hungerdunger

That's brilliant!! I'm surprised the Government didn't think of that.

Just one small problem - how will they rescue all the other banks and Building Societies when they crash due to their customers taking all their savings to the Government-owned banks?

tradetime

Hungerdunger wrote: »

That's brilliant!! I'm surprised the Government didn't think of that.

Just one small problem - how will they rescue all the other banks and Building Societies when they crash due to their customers taking all their savings to the Government-owned banks?

:rotfl::rotfl::rotfl: concise and to the point, let's finish the country off so I can get a few extra % on my savings.

robin_banks

The govt doesn't set interest rates the BoE do.

Reaper

You posted this before and got the same reaction:
http://forums.moneysavingexpert.com/showthread.html?t=1547701

It's a dead duck, let it RIP.

agsnu

robin_banks wrote: »

The govt doesn't set interest rates the BoE do.

Uh, savings account interest rates are set by individual institutions, not the BoE.

robin_banks

agsnu wrote: »

Uh, savings account interest rates are set by individual institutions, not the BoE.

And they in turn are dependent on ?.......

Milarky

robin_banks wrote: »

The govt doesn't set interest rates the BoE do.

Yeah! Pull the other one. 'Independence' of the BOE is a fig leaf. And I believe that if they did their job too earnestly (e.g. by following their own remit - targetting CPI - and not putting rates down while inflationary pressures are not being contained) the Chancellor can take the 'independence' back anyway. So, if you are an MPC member - and you have an inkling what Gordon and Alistair would really like you to do - and this will probably help you keep your job in a crisis - which way would you jump?

cos69

robin_banks wrote: »

The govt doesn't set interest rates the BoE do.

I bet you believe in the tooth Fairy as well
:rotfl: :rotfl: :rotfl:

simon_templar_2

cos69 wrote: »

I bet you believe in the tooth Fairy as well
:rotfl: :rotfl: :rotfl:

WHAT!!!! They dont exist?? Is that what you are saying :eek:

Dave101t

isnt it funny, before BofE was independent, before banks were privatised, they worked well, only offered basic services and were slow and beurocratic. the only difference since then is that they offer complicated services which is the only reason this crisis occured, now calls for them to be officially nationalised are being made.
petitions wont help, ticking the right box at the next election will.
Right, see what i did there?!