What many seem (choose) to forget in relation to mortgage interest rates is that the relatively high rate applicable to variable mortgages is impacted by the very low rates applicable to ECB fixed rate mortgages. So if those seeking "fairness" are prepared to even up the differential between the two rates that might work. But the problem with "fairness" is that some might have to loose out to make it fair.
Establishing a State owned bank, subject to political interference, would likely only transfer the so called "unfairness" to taxpayers as a whole. We are currently seeing how politicians are can be utterly populist when it comes to hard decisions, so can you imagine how politicians would feel the need to interfere with Bank policy in relation to mortgage rates, deposit rates, lending criteria etc.
I fully agree with 44Brendan, the world/life is not perfect or perfectly fair. But too many of those thinking that life is unfair is in reality lack of motivation. An increasing number of people (if the election results are a barometer) seem to think that the world / other people owe them a living. There seems to a section of the population that will not pay for anything and don't have the motivation to change their lives. And they won't if they continue to be encouraged by the likes of AAA-PBP, SF, and assorted Looney Left to believe that they are victims.
Establishing a State owned bank, subject to political interference, would likely only transfer the so called "unfairness" to taxpayers as a whole. We are currently seeing how politicians are can be utterly populist when it comes to hard decisions, so can you imagine how politicians would feel the need to interfere with Bank policy in relation to mortgage rates, deposit rates, lending criteria etc.
I fully agree with 44Brendan, the world/life is not perfect or perfectly fair. But too many of those thinking that life is unfair is in reality lack of motivation. An increasing number of people (if the election results are a barometer) seem to think that the world / other people owe them a living. There seems to a section of the population that will not pay for anything and don't have the motivation to change their lives. And they won't if they continue to be encouraged by the likes of AAA-PBP, SF, and assorted Looney Left to believe that they are victims.
