Rejected petition Do not raise Bank of England base rate.

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While I accept Interest rates are set independently. I simply don't accept that there's a strong case to raise interest rates. People's disposable incomes are not increasing above inflation. Increasing rates will kill off the recovery. Interest rates must be debated in parliament, together with an orchestrated media campaign to stop the rise for at least 12 months. Businesses' cashflow will also be affected, and, ironically we, the taxpayer will have more interest to pay on the current budget deficit.

This petition was rejected

Why was this petition rejected?

It’s about something that the UK Government or Parliament is not directly responsible for.

The Monetary Policy Committee (MPC) of the Bank of England has operational independence for monetary policy, and any decision on Bank Rate is therefore for the MPC.

We only reject petitions that don’t meet the petition standards.

Date submitted 20 August 2014
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