Should we stop paying the Bank of England interest payments on Commercial Bank deposits?

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JasBro

04.10.2024

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The Bank of England charges the UK Gov £35bn a year in interest on money they hold on behalf of commercial banks to help them in the event of another banking crisis. The European Central Bank (ECB) has already stopped paying interest on deposits it holds for the same purpose. Is it time we stopped this as well & used the money to fund public services.

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