Despite accepting tens of billions of pounds in taxpayers\’ money to bail them out, they were still failing to lend to businesses and were maintaining historically low interest rates for savers, he said.
Lord help us, that\’s the City Minister speaking there.
Base rates are (for good reasons) low at the moment. Thus of course interest rates on offer to savers are low at the moment. The one follows the other as night follows day. You want to raise the rates on offer to savers? Raise the base rate…..seomthing we really would rather you didn\’t right now.