The government played a sleek game with the banks?

lowering rates - inciting people to go out and buy property...people who were stretched and in alot of debt went the mile to buy anything, slowly the rates wee put up. and now the rates are so high even the rent is not enough to pay the mortgage. so here goes another failed economic policy of the ripp off britain-british government...churning the numbers of illegal migrants, hiding terrorists and letting them in... loosing control of migration and letting crime gain seven fold... as crime pays... honesty doesn't.a nice way of getting honest people digging deep to fuel this government's. And citizens are stupid enough not to get on the streets and roit as their country is being RUINED by parliament and people sitting in posh offices in brussels.

Lowering the interest rate was a bad decision they want to increase aggregate demand by reducing rates and hope that it lower mortgage costs but it won't. They need to investigate new ways of controlling the economy. Also they are probably doing it on purpose they want the country to be ruined and the economy so it makes the wealthy wealthier and the mass populous easier to control.

Captain Starkiller are you insane that ten years of economics growth only came about because of the high levels of debt. You clearly know nothing about economics so you shouldn't comment. If you did then you would know that when you get a mortgage the bank sells your debt off with others as a derivative. When the credit crunch started no one was buying this debt so it means that the bank has to hold more of the debt itself, increasing the risk and and therefore the return (interest rate has to rise). Now that the interest rate has fallen it will make the credit crunch worse because no one will lend money to someone who has higher risk with lower return.

Also mortgages only have to be within two percent of the base rate and that is if they are CAT standard. Most of the people that have problems with mortgages do not have this type and therefore an interest rate change will not provide much if any mortgage relief.

The reduction in the interest rate is beginning of an even greater disaster. Please do not comment on this subject if you know nothing about, who are you anyway Gordon Brown. 10 years of economic growth you should hear yourself. It has come at huge consequences that are put on the poor and middle class.

You might want to add to your figures that over the last ten years the top percentage of wealthy individuals have doubled their wealth and the rich poor divide is the greatest it has been since the last Charles Dickens novel was written. Also can not is actually cannot it is one word.

No.

TEN YEARS OF ECONOMIC GROWTH.

That is what has happened. Before, there was not as much debt as the economy did not do as well as it has now. With the cycle of boom and bust, people could not risk getting into the levels of debt that they have done now.

I do agree though that the government could and should have done more to stop encouraging people to get into debt. Many people have taken out mortgages that they can not afford, house prices have risen too much and all this is at risk.

Remember, the UK did not suffer the post 2001 recession that the rest of the world did. http://en.wikipedia.org/wiki/Early_2000s...

the government is owned by the banks they control everything .

http://video.google.co.uk/videoplay?doci...

At last an enlightened questioner!

The Bank/ Government conspiracy suceeds because to understand it requires a brain cell and the Government have dumbed down that out from the population.

Governmental debt has now been shifted onto consumer debt, people buy on credit, tax goes to treasury, interest goes to the bank, consumers borrow money to prop up the Government.

Why dont the population act? Apathy, as long as theres credit on the card, sale at DFS, Homebase hammer down prices, you can do it at B&Q and the High Street is full of overpriced Chinese crap, apathy reigns.