MSE News: Tax payday lenders to boost credit unions, Ed Miliband says

Former_MSE_Darryl

"Labour party leader Ed Miliband plans to introduce a new tax on payday lenders if his party is elected into government in 2015..."

Read the full story:

Tax payday lenders to boost credit unions, Ed Miliband says



Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

dotdash79

Won't they just put the charges onto the loan? Thus punishing the people who are using these services more.

tinkerbell28

Ed Milliband should really learn to keep his mouth shut.

What with his policies probably accounting for a lot of the energy hikes now and to come.

Cramming in the rises before freezes and green policy.

NOTHING he says will help anyone he's targeting. I'd almost be embarrassed to be a Labour supporter. He will as above just help line the pockets of business.

opinions4u

I don't really like Ed.

But I like PDL companies less.

So I'm all for this.

Tax the funds release transaction. Tax the rollover. Surtax the profit too. Make sure 100% of the revenue raised goes to credit unions.

brucethefish

So what he is saying is that they will still need to be used, in order to collect taxes from them? Bit of a vicious circle!

molerat

Typical Labour, if it is bad then tax it. Does not fix what is wrong or make it go away but makes it a nice little earner.

dealer_wins

molerat wrote: »

Typical Labour, if it is bad then tax it. Does not fix what is wrong or make it go away but makes it a nice little earner.

Thats all Labour know. Tax it and p1$$ the taxes up the wall.

Thrugelmir

opinions4u wrote: »

I don't really like Ed.

But I like PDL companies less.

So I'm all for this.

Tax the funds release transaction. Tax the rollover. Surtax the profit too. Make sure 100% of the revenue raised goes to credit unions.

Forcing borrowers to use loan sharks helps no one.

Tax isn't the way forward. Better regulation is.