Submitted on Tuesday 13th June 2023
Rejected on Friday 16th June 2023
Current status: Rejected
Rejection code: irrelevant (see below for details)
Reduce the base interest rate, to stop the country tipping in to a recession.
The Bank of England has been given the sole task of keeping inflation under 2%. It has failed to do this since 2009 and has been wrong in 96% of it's inflation forecasts. Yet, interest rates are still going up.
We petition the Government to debate the failure of the BOE's independance, and to take action to regain control of inflation by lowering interest rates back towards the long-term average of 2%
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We can only accept petitions about things the Government or Parliament are directly responsible for.
Decisions about interest rates are a matter for the Bank of England, not the UK Government or Parliament.
You can find out more about how interest rates are set here: www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate
We could accept a petition calling on the Government to review the effectiveness of the Bank of England, or remove the Bank of England's operational independence over monetary policy.
3.145.147.4 Sun, 02 Jun 2024 23:05:00 +0100
