'Dear Mr Cameron, if you want more than to just post sticking...' blog discussion

tagq2

adamg wrote: »

All forms of Religious Education, that was easy next

Teaching children "impulse control and embracing competition" is the worst form of religious education: where the intention is to instil a particular philosophy rather than to provide an understanding of the various options.

Teaching microeconomics as part of a general teaching of the !!!!!!! stepchild of mathematics that is economics... fair enough, if teachers are allocated the appropriate wands to give them extra hours in the day. But teaching kids to be "responsible" / to be good little consumers? That is not the purpose of a (secular) school.

Rafter

Excellent news about the petition.

For two long economic theory about barriers to switching has been used to drive competition policy.

Well informed consumers armed with practical skills will be a massive step forward.

I still don't believe it is enough though and that we need draconian competition rules that mean that when the next PPI scandal comes along, banks have to pay penalties as well as refunds. Maybe then they will think twice before milking customers and make sure their own business models are sustainable.

Ironically the principle is already there.... for financial products at least - it is called 'Treating Customers Fairly'. But how could it ever be fair that a small minority of customers are subsidising the minority? That applies to financial products, energy suppliers and all manner of goods and services.

People should pay a fair price for the goods and services they consume and not a large minority be ripped off by complex pricing just for being loyal.

R

Percy1983

I think the bigger scandal with PPI claims is everybody is claiming it back. I have never had PPI as I am clever enough to read what I am signing, now it seems those who weren't got either:

1, The money back.
2, the Benefits of a PPI claim.

So in short its a win win, where as those of us who had sense didn't get anything, If I knew I could claim it back later I would have took it out also and had FREE insurance.

alunharford

Money_Saving_Dude wrote: »

... that the utility services are in the private sector, when they are providing a public service. The problem is that you have to have gas and electricity. This means you have to go to one of these companies. In other words, while they claim there is choice, they have a captive market and are unlikely to go bust as not all customers will move away from them.

It has always stumped me why they can make something so simple (unit charges for gas and electricity) so complicated. It should be a fixed price -- agreed and controlled by parliament. The view that it has to be private so infrastructure can be paid for is also a red herring -- that means those who pay proportionally more of their income to these companies are paying more for a service that is provided for the benefit of all.

My view would be to take the utility industries (gas, electricity and water) back into public ownership, then there is full control and scrutiny over a key sector.

But then that is to admit that the Thatcherite approach to the economy was wrong -- even though it is wrong. And if you don't believe me, look around...

The industries with the really bad reputations for poor customer service are generally the ones where it is illegal to set up a competitor to the current players (gas/electric, water, mobile phone, retail banks, trains, airlines, etc).

Teaching children to be 'good' consumers doesn't solve the real problem - you generally can't shop around and avoid the scum in that part of the economy (the best you can do is to try to exploit loopholes that these companies create to try to 'catch' new customers to rip them off later).

wozearly

Percy1983 wrote: »

I think the bigger scandal with PPI claims is everybody is claiming it back. I have never had PPI as I am clever enough to read what I am signing, now it seems those who weren't got either:

1, The money back.
2, the Benefits of a PPI claim.

So in short its a win win, where as those of us who had sense didn't get anything, If I knew I could claim it back later I would have took it out also and had FREE insurance.

You're wrong about the win-win element.

You can only claim back PPI if it was mis-sold in the first place, which either meant that the bank illegally made it mandatory on the loan or followed a non-compliant sales process (in which case you have every right to get the premiums back) or it would have been impossible to claim on the policy (e.g. you were self-employed) and therefore it shouldn't have been sold to you as you could never have claimed on the insurance in any event.

If you were made aware of it when taking out the loan and you were eligible for it, you're unlikely to be eligible to claim back the premiums. Not all PPI was mis-sold, therefore not all PPI holders can claim back the premiums.

PAYDAYLOAN

Hi All,

I personally believe this issue should have been addressed at an earlier stage. I am now aged 19 and I am in a downwards spiral of debt from a payday loan a month or so after my 18th Birthday! I started just borrowing the lost interest then my car broke and had to get a replacement etc. And it got to the point I was borrowing from every payday loan company to pay the other as not to default. I now owe £30,000 + with still no exact figure as they keep rising. One debt has gone from £60.00 to £1440! It is my entire fault I understand, but maybe if I had learnt ways to manage my money at school I wouldn’t have needed to borrow money (especially from a payday loan lender but I just didn’t know they were the one stop road to finical meltdown!!!)
I really hope the vote is passed and it does become mandority in school, at least then in the future people would have an understanding.

James Smith

(MAKE PAYDAY LOANS ILLAGAL IN THE UK!)

hudois

This issue is long long overdue, and it's neglect is nothing short of criminal. I just don't trust politicians to do the right thing...full stop!
I'd love to believe that it would come to pass, but so much that is crying out for legislation, in order to help the man in the street to stop being ripped of, scammed etc., just gets totally ignored. When something does finally look like having some action taken; what happens?...Conflicting interests lobby it to the point that it either gets rejected or watered down to the point of virtual ineffectiveness.
I'd love to see it, but I have absolutely no faith in Politician's ability or inclinations. Call me cynical, but I have witnessed it time and time and time again.
So, Mr. Cameron...go on then, the gauntlet is down...prove me wrong!! Don't expect me to be holding my breath, though, I'll believe it when I see it, and even then, I may take some convincing that it really is what it purports to be!

David