We want 5 per cent minimum interest on our bank account deposits

  • by: Hugh Pendleton
  • recipient: All banks in Britain and any other country which are paying way below the acceptable level of interest
Central banks (and governments) declare that their level of interest is a fraction of one percent. This is irrelevant to banks who get billions of pounds paid into them every day. If a private person or business wants a loan from a high-street bank they demand much higher rates. All people who have saved either for a long time or just for a few months have a right to an honest level of interest - the lowest acceptable level today being 5%. The economy has reached a certain balance after the crash caused by the banks and the governments, so the totally untrue excuse they have been using for the last 6 or 7 years is now defunct. The economy can only function if people save: those of us who do save are absolute fools – but now we have woken up and demand our rights to an income from the money which we have saved. The older generation who have saved throughout their lives demand this interest: younger people who are saving for a house or a car also demand this interest.
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