Bring UK interest rates down to zero

A quick and perhaps obvious question; why would cutting rates down from 1.5 percent to zero would have more impact on the economy compared to moving rates from 5.5 percent down to 1.5 percent?

DAVID “DANNY” BLANCHFLOWER, the member of the Bank of England’s monetary policy committee (MPC) who consistently warned of the danger of recession, believes UK interest rates should “obviously” head down to America’s near-zero level.

Here is another, perhaps equally obvious question: if UK banks have a massive funding gap, how would lower interest rates help fill this hole with private sector savings?