Call to keep interest rates hold at 0.5%

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SMALL businesses in Milton Keynes have called on the Bank of England to keep its interest rates at 0.5 per cent until at least the third quarter of the year.

The Federation of Small Businesses (FSB), says recent economic data has shown a weakening in manufacturing output and only modest growth.

Allan Banks, who chairs the North Bucks Branch of the FSB, said: “We believe that before a rate rise can be fully considered we need to see entrenched economic growth.”

When rates do rise the FSB wants to see them increased gradually. The also want no more consumer taxes and a fuel duty stabiliser.