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
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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