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This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to lower the official rate of interest relating to beneficial loan taxation to 5% or lower. More details
Submitted by Nick Smith – Deadline to sign up by: 18 January 2009 – Signatures: 3
More details from petition creator
Currently, the official rate of interest for beneficial loans sits at 6.25%. With base-rate falling, this is likely to be higher than even standard variable rates on most mortgages and substantially higher than the bank-of-england base-rates. This means that employees taking advantage of staff mortgage schemes will not recieve the full benefit of base-rate cuts, leaving such people being penalised. I move that the beneficial rate should be returned to at least the 5% rate that it held for previous years, if not lower.
