Submitted on Saturday 25th April 2020
Rejected on Tuesday 7th July 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Give all profits earned from the coronavirus support loans to charity sector.
Banks are currently lending money to businesses, with the support of the Bank of England printing money and the government guaranteeing the loans. This means the banks are getting free money, making profits on it, and it’s impossible for them to lose.
We want to live in a fair and just society. The Government must change the law, so that banks cannot earn profits off of government backed loans. We want all profits from these loans to go to the charity sector, forever. And any future government guaranteed loans, including loans made indirectly through funds generated by quantitive easing, should also go to the charity sector. Banks shouldn’t get a free ride and all charities desperately need our help.
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't accept your petition because the UK Government aren't responsible for the issue you raise. Donating profits would be a decision for individual businesses.
The Bank of England have implemented various measures to increase the amount of lending from commercial banks. UK banks have agreed that they will not pay any dividends to their shareholders that were still due from 2019, and will not pay any new dividends until the end of 2020. In addition, they do not expect banks to pay cash bonuses to their senior staff.
You can read more about these measures here: www.bankofengland.co.uk/coronavirus
If you would like the Government to lend directly to businesses, rather than through guaranteeing loans through commercial banks, you could start a petition calling for that to happen.
13.58.101.151 Mon, 18 Nov 2024 14:56:40 +0000
