The CBI has always wanted to borrow cheap money, or better still, free money. The Queen said in her speech "My Government will give incentives to increase saving". If the interest rate goes to zero (doesn't have far to go) who is going to save? Where will the borrowers money come from?

Richard, Alicante, Spain

Demanding that banks write new tracker mortgages at these low rates is utterly reckless of the government. What happens when rates go back up, which they will with vigour when the pound crashes?

Mortgage rates should be fixed, permanently. Problem solved.

Tom Brewer, Slough, UK

"Experts" calling for drastic rate cuts probably have large mortgages, and are simply coming up with this argument for their own selfish benefit.Why are savers ignored when it comes to rates ? If someone suggests you save for your old age, ignore them and borrow all you can, and spend the lot.

Mike, Dunstable, England

Rate cutting has devalued Sterling and led to fuel and food price rises in the UK being twice those of the rest of the EU. How has that 'helped' the economy?

Paul, Coventry,

Peter, your business will get a lot smaller if people are reducing their costs significantly. Yes you may be losing a small amount of taxable interest, but the earning potential of your business will suffer far greater losses without significant rate cuts. Deflation is a serious issue.

Matt, Leeds, UK

Too late to reduce rates now. Look upon it as a long overdue economic correction. Reduce taxes to companies and people producing real things. Cut Government waste. Cut ridiculous Civil Servant salaries. Tax billionaires. Create wealth by selling things abroad that people want! It's not difficult!

Chris, London,

Alistair, it's quite simple. Company already has base-linked loan. Therefore overheads lower, therefore maintains profitability, therefore doesn't go bust, therefore people spend wages, therefore manufacturing continues. Individuals have more disposable income through paying less for mortgage. Yes?

Nick, Seaford, UK

Reducing interest rates can only help if they are passed on by lending institutions. Over the longer term it is vital to introduce new technology to negate over dependence on imported oil, energy, and materials. We need to produce via our own resources.

B Clark, Redditch, UK

Has'nt anybody heard of the liquidity trap - the point where reducing the interest rate has no effect. We are are very probably near this point now

malcolm, ely,

As the owner of a small business I have seen the rate paid by my bank (A&L) fall from 5.25% to 2.75% in a matter of weeks. How does cutting rates reward prudent businesses (or individuals)? Why does Govenrment policy always favour the impecunious?

Peter, St.Albans, Herts

How will reducing rates that companies pay for loans they can't get improve things? The BoE don't directly put money in to small business so this measure won't provide what it historically used to. There will still be a buffer time where backs claw back money which will see things worsen for some.

Alistair Kipling, Birmingham,