Protecting Savers From Hidden Interest Rate Cuts
EDM number 224 in 2000-01, proposed by Colin Breed on 18/01/2001.
That this House notes that in the last 12 months the Bank of England's base rates have remained unchanged, but since November over 30 banks and building societies have cut rates of interest paid to savers; is concerned that many savers may be unaware of the current rate of interest applicable to their account; and therefore calls upon Her Majesty's Government to protect savers by giving them the same rights as borrowers, who must be properly informed when interest rates are altered.
This motion has been signed by a total of 65 MPs.
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