Harriett Baldwin, who chairs the Treasury Committee, said the ‘big four’ banks have not done enough to pass on higher interest rates to savers.
The chair of a powerful group of MPs has criticised Britain’s biggest banks for ‘doing as little as they can get away with’ to reward savers
It comes despite the lenders revealing their financial performance has been impacted in recent months by higher savings rates on the market. “We will continue to press for individual and business savers to be rewarded. Meanwhile, savers should shop around for the best rate.” Harriett Baldwin, chair of the Treasury Committee, said Britain’s biggest banks have been too slow to pass on higher interest rates to savers
Overall, customer deposits across the group grew by £2.4 billion between July and September, compared with the previous three months.
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