Interest Rates

Treasury written question – answered on 15th May 2008.

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Photo of Chris Ruane Chris Ruane PPS (Rt Hon Caroline Flint, Minister of State), Department for Communities and Local Government

To ask the Chancellor of the Exchequer what recent representations he has received on decisions of banks and building societies on whether to pass on interest rate changes to customers.

Photo of Kitty Ussher Kitty Ussher Economic Secretary, HM Treasury

The Chancellor receives representations from a wide range of stakeholders on issues relating to the bank and building society sector.

Decisions concerning products and pricing are commercial decisions for banks and building societies.

In order to strengthen support for home owners facing difficulties with their mortgage payments, the Government—working with the mortgage industry—announced on 9 May, a range of measures including improved access to debt advice.

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