Fri 6 Jul 2007
Interest rates
Posted by Kim under Politics
No Comments
For those of us with a mortgage the recent 0.25% rise in interest rates has been somewhat worrying, but listening to the radio this morning I heard something really alarming about interest rates. Roger Bootle, of the Shadow Monetary Committee, effectively said if it isn’t hurting, it isn’t working. The last time I heard this sort of comment was in the late 1980’s when the then Tory Government were trying to manage the money supply by constantly raising interest rates, by up to 3% at a time! At that time I lost my business and many others lost their homes, as interest rates spiralled up to an eye-watering 15%. I hope never to live through that again. The moral is NEVER trust the Conservative Party with the economy.
Edinburgh
15°
Innsbruck
12°
