The world we exist in is fundamentally unfair and favours people with money, it’s horrible.I, personally, don’t like to see my nephews and nieces paying more and more for their mortgages while I’m getting more and more for my savings. But I understand that to kill inflation you have to suppress spending, and it’s the younger generation that tend to spend more, so you increase interest rates to take money from them and give it to savers who’ll horde it. I’d like to understand why just increasing taxes wouldn’t have the same effect of suppressing spending without disproportionally clobbering the young.
I gave Mustafa the answer he was hoping to hear to create a divisive thread - but of course I don’t want interests to go up because people are struggling including friends at work and my neices/nephews with trying to get mortgages etc but I don’t want really them to drop much lower either, I depend on my monthly interest payments from fixed term savings to top up my income at the moment and I’m still struggling at the end of the month - no holidays, no car, no new clothes, no nights out - Brighton football matches (and getting to them has by far been my biggest expenditure this year after utilities and food.I have savings and no mortgage. But I would want them to go down. Folk are struggling.