Launch a 5 year government Bond paying 5%pa gross

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Launch a 5 year government Bond paying 5%pa gross

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Bring much of the UK debt 'in-house' by way of a long term savings Bond paying 5% gross. This would generate tax on the interest, and put £billions back into the economy as people spend that interest.
The Bank of England refuse to do it, saying that their priority is to rebuild the 'balance sheets' of banks, borrowers, and the Government by, amongst other things, forcing savers to spend and invest in equities. That ignores the need of many elderly savers to protect irreplaceable capital, and that it was debt that got us into the mess we are in.
Savers are seeing their capital errode further because the Government is giving the Banks our taxes and much of additional the money they still borrow, to loan out to business. That means the Banks have no need to attrract savers with reasonable interest rates. When the Banks do loan out that money to businesses they charge high interest rates, and they still refuse to lend in many cases.

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