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Should Rishi Sunak create a ‘national bank’ to fix the economy? | Economics | New Statesman
Posted
July 21, 2023
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July 21, 2023
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11:44Now PlayingHigh street banks are profiting from “economic misery”, why won’t the government step in and fix it?
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Inflation has fallen by more than expected. But while borrowing rates are going up, the profits are not being shared with savers. High street banks are profiting from the difference. At Natwest, this has pushed operating profit up by £700 million last quarter.
A viewer asks: should Rishi Sunak nationalise the banks?
Anoosh Chakelian, Will Dunn, Rachel Cunliffe, and Rachel Wearmouth analyse the plausibility of the government's options: creating a central bank with a digital currency, implementing windfall tax, and introducing a new consumer duty.
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