Written Question·Treasury·UIN 197161
Bank Services: Interest Rates
Tabled: 1 September 2023
Answered: 7 September 2023
Question
Charlotte Nichols
Labour — Warrington North
To ask the Chancellor of the Exchequer, if he will make it his policy to issue penalties to banks that offer savings accounts with interest rate levels below the Bank of England Bank Rate.
Answer
Andrew GriffithThe Chancellor has made clear his expectation that savers benefit from rising interest rates. On 28 June, the Chancellor secured agreement with the regulators to act urgently in areas where consumers need most support. This included agreeing with the Fina...
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