INTEREST RATES FOR SAVERS

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That this House notes the regularity of the warnings from a range of economists regarding the Bank of England's need to raise interest rates to combat rising inflation; and calls on banks and other financial institutions, once any increase in the base rate is announced, to increase their rates for savers accordingly given that there are six times more savers in the UK than those with mortgages, and many of those savers are elderly and depend on the interest from their savings to supplement their pension income.