Cap the rate which borrowers are charged at the Bank of England rate set by the Monetary Policy Committee

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Cap the rate which borrowers are charged at the Bank of England rate set by the Monetary Policy Committee

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We currently have a situation where our banks can borrow huge amounts of money from the Bank of England at a rate of less than half of one percent, and the charge what they like when they lend that money on. This is grossly immoral misuse of taxpayer pounds by empowering the banks to use borrowers as a cash cow instead of using them as clients. Nobody should pay more than the MPC credit rate when they borrow money.

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