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

dancingfairy

Make banks make customers aware of better deals with similar names when they are launched so people don't think they are on the best deal when they are not.
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MothballsWallet

All financial service companies to be subject to random audits with no notice of their arrival by a super-improved FSA: any failures punishable by a 100% of pre-tax profits penalty.

ferrari042

Many people on low incomes are tempted by the weekly payment schemes offered by companies on goods like computers, TV's etc. They seem affordable but at APR's of 49.9% is OTT compared to normal base rate / loans rate. We need legislation to restrict the max APR or ban compaines from advertising on TV and in the press.

ferrari042

We should look at the new US legislation on credit card charges / lending / penalties and adopt a similar practice in the UK.

ferrari042

The current system of pricing is a matamatical nightmare, all companies should have to provide an easy to understand pricing system based on a consitant format eg "X hours for a 100 watt bulb = Y and a similar one for gas. Get rid of first X units at Y followed by another figure. Only then can we try and work out the best deal for us.

ferrari042

Ban all companies from cold calling customers as we often agree to something over the phone which sounds like a good deal but isn't.

SoldierSvejk

Independant bond office for renters deposits. Money goes to bond office at begininning of tenancy, office checks premises. at end of tenancy, bond office checks premises, deducts any damage costs, and gives to landlord. Funded by government, and interest from money held.

liz545

Anyone who took out a student loan before 1998, or after 2006, only has to make repayments for 25 years after graduation. Anyone who took out a loan between those years will only have it written off at the age of 65. Why is it that students who took out a loan in this period aren't entitled to the same fair treatment as everyone else? If you're still repaying your loan 25 years after graduation then surely you've not received the expected financial benefit (i.e. higher earnings) that a degree is supposed to confer, and even graduates earning £25k can only expect to pay off around £500 of the capital per year, accounting for interest. It just seems wrong that some students receive radically different treatment in terms of the length of repayment.

EnorMouse

It should be a term in the Sale of Goods Act, that any monies paid in advance should be held in trust by the supplier until such time as the goods/services are supplied. Anyone involved in the management of the business should be classed as a trustee and may be held liable if the monies in the trust are not protected and the customer can pursue their money, normally back from the bank it was paid into.

lesleagh

Increase PAYE allowances. Tax luxury items. Increase age limit for borrowers. Tax relief for employing domestic servants (redistribution of wealth & meeting social need)