Submitted on Thursday 30th April 2026
Rejected on Wednesday 3rd June 2026
Current status: Rejected
Rejection code: irrelevant (see below for details)
Stop paying interest on commercial bank reserves.
Stop paying interest on the reserve accounts of commercial banks held at the Bank of England.
This policy is economically contractionary and discourages banks from investing productively, and serves to encourage hoarding wealth and speculation over improving capacity in the real economy. Removing this from our monetary system will help to deliver a better standard of living and direct the power of endogenous money creation towards prosperity for all.
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The Government e-Petitions Team gave the following reason:
We can only accept petitions about things the Government or Parliament are directly responsible for.
Decisions about the rate of interest paid on bank reserves held by the Bank of England are a matter for the Bank of England, not the UK Government or Parliament.
216.73.217.50 Sat, 20 Jun 2026 21:54:11 +0100
