Great “Improve Money Rules In 50 Words” Hunt. What easy changes for our politicians

coldoasis

Once you are discharged from bankruptcy after six years it is removed from your credit file but you still have to admit to it on application forms for the rest of your life Not fair

Bill_Parish

Just above the customers signature box on the application form for any financial product (ie. private pension etc) paying commission should be another box showing the initial and trail commission percentages and the actual sums of money they represent. This box and its contents should be in red.

holmework

National Insurance is a 'lie', so just combine it with income tax.
Get rid of CGT, inheritance tax, ISAs, etc which only benefit the rich or financially-literate.
Extend 'expenses' to employees (not just self-employed) - I don't buy suits and sit on crowded trains out of choice!
Banks - run down the failed banks and replace them with more innovative, better managed ones.

abinitio

In some US states. If the house you own falls in value and into NE then the lender has to lump the shortfall when sold.

Look at it this way. To obtain a mortgage you have to pay for a survey that the mortgage company approve and agree. They are in a far better position to judge the housing market than Joe Bloggs so it's only fair that should through either reposession or sale a shortfall occur due to a decline in house prices, then they should have to take all or part of that onboard.

Sorry if this was put elsewhere on this list. I look but didn't see it.

Bladerunner_2

Halt the practice of Financial organisations hiding behind the Money Laundering Act when offering beneficial products to new customers but making it difficult for exisiting customers to benefit.
In many cases I have to supply all sorts of evidence such as signed copies of my passport to get higher interest rates on new products even though I have other accounts with the same company.
Many people just give up which is what these organisations want them to do.

XRAT

katp wrote: »

or we impose self sufficiency on prisons, with the exception of guarding (which could be partially funded by the sale of surpless goods). Prisoners can only eat what they can grow, can only live in accomodation they can build etc. Should keep them fit and out of trouble whilst learning useful skills.

and teach them a work ethic.

XRAT

BARON_HARDUP wrote: »

MP's Expenses
Stop all MP's expenses and increases the basic salary to £80,000. this will do away with the Fees Office, stop unjustified claims, reduce costs and convince taxpayers that there will not be a repeat of the present fiasco.

...and increase their pensions!!!! (which are a % of their salary)

Wressledene

Make the state old age pension tax free (along with other benefits such as carer's allowance). It is iniquitous that such a pittance counts as part your taxable income. Tax breaks on pension savings would also help - if the government wanted us to save. Reform of MPs' gold plated pensions would pay for it!

marianwoodcock

SPEED UP CASH ISA TRANSFERS

for instance, by allowing electronic transfers between accounts designated as ISAs.

Weakest_Link

Copies of the Banking Code (or whatever the FSA chooses to replace it with) should be on display alongside other leaflets in bank and building society branch offices.

They should not be hidden away and it should not be necessary to request one.