Submitted on Sunday 3rd July 2016
Published on Monday 18th July 2016
Current status: Closed
Closed: Wednesday 18th January 2017
Signatures: 29
Privatise the Bank of England
The Bank of England was formed in 1694 and nationalised in 1946. We have reduced the National Debt by privatising Steel, Coal, Utilities, BT and Railways. Restored to its historical role BoE would be a better controller of the Banks and a check to the Treasury.
Gordon Brown set in place in 1997 a well planned stealth move to undermine democracy and accountability of monetary policy. He also unhooked the Bank Rate from Government borrowing. We now have a situation where there is no political control of our Bank Rate which at 0.5% is detrimental to savers, unfair to those on fixed incomes and those seeking annuities for pensions but very favorable to the Bankers who caused the 2008 crash.
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