A group of financial campaigners is urging the Bank of England and the Government to decrease interest rates to support a fair and sustainable economy. They argue that the current high borrowing costs are not effective in tackling inflation and propose increasing taxes on banks to help families struggling with the cost of living.
The base rate has rocketed from a record low of 0.1 per cent to 5.25 per cent – a level not seen since before the 2008 financial crisisA group of financial campaigners is calling on the Bank of England and the Government to not only keep interest rates where they are when they meet tomorrow – but to decrease them.
But if you had visited the Bank’s Threadneedle Street home on any of the days when it announced its increases to the base rate this summer, you would have seen campaigners from the group vocally arguing against this. Rates could now be at their peak, with much of the added pressure on households already being seen. So what else is Positive Money calling for to fix things?
Interest Rates Financial Campaigners Bank Of England Government Borrowing Costs Inflation Taxes Cost Of Living
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