The proposal is to limit the amount of interest charged so no one pays more in interest than the loaned amount.
So surely this just means that instead of open-ended credit the companies would simply be forced to time-limit their loans and demand full repayment of the lent capital at the end of the loan period.
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Reply to: Cash for votes
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Previously on "Cash for votes"
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Originally posted by original PM View PostThe part about helping people to get out of the debt cycle seems like a great idea.
Until you realise that they will fall straight back into it.
Though there would be some very rich people who are poor now. Social mobility is tougher than 30 years ago.
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Originally posted by BrilloPad View PostLabour pledges law to cut credit card debt - BBC News
Between limiting credit card debt and student debt, will enough votes be purchased to get Corbyn elected?
Until you realise that they will fall straight back into it.
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Cash for votes
Labour pledges law to cut credit card debt - BBC News
Between limiting credit card debt and student debt, will enough votes be purchased to get Corbyn elected?Tags: None
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