Bank of England by Matt
Even though the Government has practically given the Banks Billions of Tax Payers money in order to stave off the property collapse, the Banks have not passed the cheap money on. Rather predictably they have trousered the lolly, upped the bonuses and tipped the Chancellor with a “thank you”. City analysts suspect that the Chancellor may now get the Bank of England to reverse the interest rate paid to banks on their reserves with the central bank in an effort to stop institutions hoarding the extra money, and introduce a charge for holding cash with the Bank.
What next? Mortgage holders being paid to borrow money? Landlords paying tenants to look after their flats? Alice in Wonderland for Prime Minister?
Exciting times!
