Independent
"So far, the only major beneficiaries of the Bank's efforts to restimulate the economy have been heavily indebted house owners, who have seen their mortgage costs cut dramatically. Savers are being clobbered while the profligate who helped prompt the credit crunch are seeing disposable incomes soar, assuming they are still in a job. The reason Britain is in this mess is that we borrowed too much, spent too freely and allowed our financial system to take on excessive risks. Yet bizarrely, it is those ordinary people and small businesses that have lived their lives responsibly by saving and paying down debt that are being punished the most."
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