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More details from petition creator

Raising 'interest rates' for existing borrowers is unfair, unnecessary and bad monetarism. Inflation is mainly caused by sellers, not buyers, and attempts should also be made to stop sellers increasing prices. Interest rate rises cause many problems such as greater inflation, higher wage rises and difficulties for young families. It is bad monetarism, as it increases some spending:- it takes money from some people who have to increase borrowing to pay bills, and it also gives other people money they will spend or send abroad. Mortgage increases above RPI could be replaced by a tax on new borrowing, either one-off or tapering off when inflation falls, or a corset on bank lending as used before Thatcher. Inflation should also be tackled by punishing and incentivising businesses who raise prices rather than punishing consumers. It is consumers who need protection from higher prices- which is recognised by legislation on labelling, trading standards and monopolies.

Current signatories

ian harper, the Petition Creator, joined by:

• Alex Simpson
• Andrew Edney
• elliott coxon
• Peter W Roche
• Rachel H Roche
• Robert Bolt
• Lisa Bolt
• Barry Hume
• Matthw Fidler
• KATHRYN SMITH
• Katharine Knight
• Sally Smith
• Joanne Elliott
• Rebecca Watson
• deborah Cooke
• Jenny Cliffe
• C. McGurk
• Emma Dodge
• andrea hill
• malcolm dodge
• Gemma Stubbs
• Paul Smyth
• ashley renshaw
• Ian Bosworth