Labour promises law to cap credit card debts

Sep 27, 2017, 00:31
Labour promises law to cap credit card debts

In the run-up to his re-election previous year she tweeted: "One day in the far distant future we'll look back and we won't laugh, because this isn't bloody amusing".

The PFI scheme was introduced in 1992 by former Conservative prime minister John Major, but was stepped up significantly under Tony Blair's administration, when it was used to fund the construction and operation of public sector infrastructure like hospitals.

The shadow chancellor, John McDonnell, will announce plans to guarantee that no-one pays more in interest payments than their original loan.

A Labour spokesman later said the party would, in fact, review all PFI contracts and "if necessary" bring them back in-house.

"The scandal of the Private Finance Initiative has resulted in huge long-term costs for taxpayers while providing enormous profits for some companies", he said.

He claimed a lot of the profits from PFI deals was going to shareholders - many of whom were based in offshore tax havens.

Under the proposed new rules, customers who pay more in interest and charges than they do in repayment of credit card debt over an 18 month period will also need to be helped by credit card providers.

The shadow chancellor was cheered as he confirmed that a Labour government would scrap university tuition fees, overturn Conservative trade union legislation and nationalise rail, water, energy and the Royal Mail.

The letter, which Mr Morgan posted on Facebook, added: "I must apply the same standards to Labour as I would to any other party conference or political event; whilst none of us can control what is said at meetings we do not run, I have to make the strongest possible representation on behalf of the residents of the city who are Jewish".

The call by Jonathan Ashworth came as allegations of anti-Semitism came back to haunt the party during its conference in Brighton.

"This is a party of all communities around the country".

Taking a swipe at the government's plans for infrastructure investment in the North, McDonnell said that Labour would invest in a swathe of schemes in northern regions including extending HS2 into Scotland.

Labour, he argued, must "scenario-plan" for all kinds of potential challenges it might face in government "bringing the relevant expertise together at every level to talk through what happens if there is such and such a reaction".

"Forced nationalisation of large parts of British industry will send investors running for the hills, and puts misplaced nostalgia ahead of progressive vision".

CBI director-general Carolyn Fairbairn told McDonnell that "the world is watching" and warned global investors could be put off by his plans.

YOU MIGHT ALSO LIKE
  • Aaron Judge Breaks Mark McGwire's Rookie Home Run Mark

    Aaron Judge Breaks Mark McGwire's Rookie Home Run Mark

    He hit No. 49 in the third inning , ripping it over the right-field wall for two runs to give the Yankees a 3-0 lead. Jake Junis was knocked around for six runs over 5 2/3 innings in a loss to the Yankees on Monday.
    Japan PM Shinzo Abe calls snap election, to dissolve parliament Thursday

    Japan PM Shinzo Abe calls snap election, to dissolve parliament Thursday

    Support for Abe's party has since rebounded, helped somewhat by a Cabinet reshuffle last month. "We shouldn't get too relaxed". Meanwhile, it was "supported around ¥112" by firm stock prices, said an official at a foreign exchange brokerage house.
    Ghana 4 - 1 Nigeria...Stars Win WAFU 2017 Tournament

    Ghana 4 - 1 Nigeria...Stars Win WAFU 2017 Tournament

    Ghana will play Nigeria on Sunday 23rd September, 2017 and kick off is 18: 00 GMT for the finals of the WAFU Cup 2017. Ezenwa , who did not concede any goal before the final game, was awarded the best goalkeeper award.
  • China's huge Rakhine investment behind its tacit backing of Myanmar on Rohingyas

    China's huge Rakhine investment behind its tacit backing of Myanmar on Rohingyas

    The ASEAN statement was issued after extensive consultations with Malaysia, the DFA added. He said a commission led by former U.N.
    Iran 'successfully' launches ballistic missile

    Iran 'successfully' launches ballistic missile

    What's new, he said, is that Iran says its ballistic missiles can carry multiple warheads and maybe several cluster bombs. The nuclear agreement reached during the Obama administration doesn't strictly prohibit Iran from developing missiles.
    Crude Oil Prices Start the Week a Touch Lower

    Crude Oil Prices Start the Week a Touch Lower

    Russian Federation joined in the call to say the oil market is rebalancing. This is also the fifth consecutive week that fuel prices have risen.
  • Tillerson stresses diplomacy on North Korea amid threats

    Tillerson stresses diplomacy on North Korea amid threats

    The top diplomat's remarks came less than an hour after President Trump heightened the war of words with North Korea. President Donald Trump's speech at the United Nations on Tuesday was met with fierce criticism in the media.
    WWII veteran, 97, kneels in support of protesting athletes

    WWII veteran, 97, kneels in support of protesting athletes

    Brennan Gilmore tweeted the photo of his grandfather John Middlemas Sunday morning before any team took the field. President Donald Trump first posted his thoughts on the protests on Twitter Saturday afternoon.
    Intel 8th Gen Coffee Lake Core i3, i5 and i7 Processors Announced

    Intel 8th Gen Coffee Lake Core i3, i5 and i7 Processors Announced

    All 8th-generation chips get onboard support for 4K video and Intel is touting improved gaming and video processing as big wins. Coffee Lake desktop processors, the follow up to 2016's Kaby Lake processors, launch on October 5, Intel announced today.
  • Trump blasts McCain over healthcare vote on Twitter

    Trump blasts McCain over healthcare vote on Twitter

    The latest attempt by Republican Senators to replace and repeal Obamacare is likely dead before a bill will even be voted on. He's also begun speaking out against McCain for not voting to pass a previous bill that would have accomplished that goal.
    New Earthquake in Mexico

    New Earthquake in Mexico

    In total, the 7-year-old has detected the bodies of 52 people throughout her career, 12 of whom are still alive. Morelos state accounted for 73, Puebla for 45, Mexico State for 13, Guerrero for six and Oaxaca for one.
    Scaramucci: Bannon Has 'Tendencies' Toward White Nationalism

    Scaramucci: Bannon Has 'Tendencies' Toward White Nationalism

    You guys may disagree with him'. "I was calling him "Lying Spice" from the Spice Girls", he said . It doesn't work, and instead we get a second helping of Cantone's unfiltered, next-level jabs.
popular