Comments on: The Tories’ volte-face on payday lending

By: Chris Kitcher

Chris Kitcher — Mon, 25 Nov 2013 20:55:00 +0000

I don’t believe any of the bast##ds. This makes good headlines at the moment but once with the FSA it will all conveniently forgotten.

By: Gary Urquhart

Gary Urquhart — Mon, 25 Nov 2013 18:00:00 +0000

I agree about waiting to see details. But we on the left cannot be so smug. the last Labour government said this in the FAQ’s to the 2006 Consumer Credit Act:-

8. Will the Act introduce maximum limits on interest rates for consumer credit?

No, the Government has decided not to introduce an interest rate ceiling on the basis of research by Policis (an independent company) on the effects of maximum limits interest rates in other countries.

This was on 8 August 2007 after hundreds of us had asked them to sort it out. So let’s just remember this kind of thing when we are back in power

http://webarchive.nationalarchives.gov.uk/+/http://www.dti.gov.uk/consumers/consumer-finance/credit-act-2006/FAQs/page24450.html

By: TM

TM — Mon, 25 Nov 2013 17:15:00 +0000

‘It’s difficult to fathon why the cap is such a good idea now but wasn’t earlier.’
I believe the expression is ‘political expediency’. They have seen the writing on the wall basically; or perhaps on the forums and blogs and everything else that condemns them as heartless and merciless and that everyone and his dog will vote Labour just to see the back of them all. Only now have they got a conscience?! What a surprise there hey?! Election time getting closer is it?

By: Tim Harding

Tim Harding — Mon, 25 Nov 2013 13:24:00 +0000

Just because this Bill achieves the same result as Stella Creasy’s, does not mean it’s the same thing. The devil is in the detail. No conspiracy, no change of heart, simply a better bill that the members found themselves able to vote for.

By: Sparky

Sparky — Mon, 25 Nov 2013 12:05:00 +0000

Never happy, are you?

The government doesn’t do something -“Why won’t it listen to reason?” The government does something -“Why didn’t it do something before?”

By: Kevin Leonard

Kevin Leonard — Mon, 25 Nov 2013 11:04:00 +0000

They (the coalition) could never support any idea of a cap on lenders until they had permission to do so off the lenders themselves which they now have after selling off the student debt to them as a replacement source of income.