Labour urges banks to ‘do more’ on interest rates for savers

Labour’s Pat McFadden has backed a move by the financial watchdog to summon top bankers over concerns that interest rates for savers are too low compared to the cost of mortgages.

The shadow treasury minister said UK “I think it’s right to put pressure on the banks to do more. They’ve been quick enough to put people’s mortgage rates up … if interest rates are rising then savers should feel the benefit of that.” Report by Buseld. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn