Submitted on Saturday 28th March 2020
Rejected on Tuesday 14th April 2020
Current status: Rejected
Rejection code: duplicate (see below for details)
Control interest rates during the coronavirus crisis
The unprecedented COVID-19 will lead to many families needing to borrow money in order to survive. Banks should be ordered to cancel interest rates on overdrafts and the maximum interest charged on any loan, debt or card should be limited to 1.0 per cent with immediate effect.
Despite Government efforts to pay 80% of salaries or self-employed earnings, COVID-19 will lead to financial hardship.
Bank rate is at a historical low of 0.1% yet lenders are allowed to charge whatever interest rate they think they can get away with.
One high street bank has cancelled interest charges on overdrafts. All others should be ordered to do the same. The proposed max interest rate on other borrowing should be backdated to March 1.
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:
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.
petition.parliament.uk/petitions/305297
Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more.
You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here:
www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus
You can find out more about coronavirus and how you can protect yourself and others here:
www.gov.uk/coronavirus
www.nhs.uk/conditions/coronavirus-covid-19/
You can read NHS tips to help if you are worried about coronavirus here: 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:
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: 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: committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
3.145.82.224 Fri, 05 Jul 2024 20:26:53 +0100
