Rejected petition Limit banks and credit card lending to a maximum of 5% APR during Covid-19.

During the current Covid-19 crisis and while the Bank of England has reduced the interest rate to 0.1%. The government should legislate that financial institutions including high street banks and credit card companies operating in the UK can only charge a maximum 5% APR while the crisis continues.

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Ease the monthly payment requirements while many people are facing a period of financial hardship. Institutional borrowing costs have been slashed - this should be passed on to the general public.

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

You may wish to sign this petition calling for the same action: https://petition.parliament.uk/petitions/304268

You can find out more about coronavirus and how you can protect yourself and others here:

www.gov.uk/coronavirus
https://www.nhs.uk/conditions/coronavirus-covid-19/

The Government has also created an online service to help you out what you can do if you’re struggling because of coronavirus: https://www.gov.uk/find-coronavirus-support

You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips

You can read impartial analysis of the Government response to coronavirus and policy developments here:
https://commonslibrary.parliament.uk/coronavirus/

You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.

Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/

Read letters asking further questions of Government Ministers: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/

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

Date submitted 26 March 2020
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