Cut taxes not rates

David Kuo, financial expert at The Motley Fool responds to the Bank of England interest-rate decision: "The Bank of England has now cut interest rates by four percentage points since October, yet the economy continues to shrink. The problem that the UK faces is not the cost of money but instead the quantity of available money.

"The Motley Fool is therefore reiterating its call for the Government to cut consumer and business taxes before it is too late. Tax cuts would provide an immediate stimulus to business and a much-needed boost to household finances.

"Failing to do so is tantamount to saying that it knows best, and the evidence would strongly suggest otherwise. Both the Government and the Bank of England should revisit the first rule of holes, namely when you are in one then stop digging."