As part of a crackdown on credit cards and store cards, the Government is considering capping interest rates in a bid to get the consumer a fairer deal.
Following the Government’s review into consumer borrowing, Consumer Minister, Edward Davey, and Financial Secretary to the Treasury, Mark Hoban, have asked industry experts for their views as to how consumers can get a better deal.
The move is expected to save consumers in the region of £300 million a year.
Commenting on the review, Mr Davey said: “I want to encourage both [customers and lenders] to take responsible decisions and to strengthen protection where necessary – particularly for the most vulnerable.”
The Government plans to publish its proposals from the findings of the review in 2011.
The report comes as average credit card interest rates have soared over recent times – despite the Bank of England’s base rate being held at the historically low rate of 0.5% since March 2009.
Experts say providers have been passing on the cost of a rise in defaults – reflected by the squeeze on British households due to the recession. –Kay Murchie, http://www.financemarkets.co.uk/2010/10/17/credit-card-interest-could-be-capped
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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