Stop the £40bn bank interest racket: Calls from across political divide to curb stealth subsidy for lenders

Stop the £40bn bank interest racket: Calls from across political divide to curb stealth subsidy for lenders - Lenders are making billions through a little known scheme - They receive interest on reserves they have to hold at Bank of England - These reserves came about as a result of Bank's Quantitative Easing programme Political opponents are coming together to demand curbs on a stealth subsidy paid to the High Street banks that costs taxpayers £40 billion a year. Critics …