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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 18th Jan 12, 9:48 AM
    • 2,324Posts
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    Former MSE Helen
    MSE News: End the 'rip off' charges says Miliband
    • #1
    • 18th Jan 12, 9:48 AM
    MSE News: End the 'rip off' charges says Miliband 18th Jan 12 at 9:48 AM
    This is the discussion thread for the following MSE News Story:

    "The Labour leader says the Government should intervene on exorbitant charges for savings, holidays, banking and parking ..."

Page 1
    • VT82
    • By VT82 18th Jan 12, 11:16 AM
    • 1,039 Posts
    • 878 Thanks
    VT82
    • #2
    • 18th Jan 12, 11:16 AM
    • #2
    • 18th Jan 12, 11:16 AM
    Is it REALLY fairer in America? I was trying to book tickets for something, and there was no end of added fees, at least one of which every time was unavoidable but not shown in the headline price. And then of course they add the tax on at the end...
  • pqrdef
    • #3
    • 18th Jan 12, 12:54 PM
    • #3
    • 18th Jan 12, 12:54 PM
    Ed should challenge Cameron to agree that these predatory attitudes are a symptom of the "broken society". Because the Tories think it begins and ends with gangs, yobs and benefit claimants.
    • dunstonh
    • By dunstonh 18th Jan 12, 2:03 PM
    • 98,598 Posts
    • 66,990 Thanks
    dunstonh
    • #4
    • 18th Jan 12, 2:03 PM
    • #4
    • 18th Jan 12, 2:03 PM
    "The Labour leader says the Government should intervene on exorbitant charges for savings, holidays, banking and parking ..."
    Didnt seem to worry them when they were in power and many of these fees came about under a Labour administration.

    Typical ranting to take the popular position whilst in opposition to encourage votes. You only have to look at what happened to the LibDems to see how that can go wrong (i.e. go campaign with every popular position but realise when you are in power that you cant do that)
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • psyman17
    • By psyman17 18th Jan 12, 2:51 PM
    • 88 Posts
    • 77 Thanks
    psyman17
    • #5
    • 18th Jan 12, 2:51 PM
    • #5
    • 18th Jan 12, 2:51 PM
    How about banning loan brokers charging for doing nothing? Capping Payday loan charges? Looking into rip off bus & train fares? etc....
    • JuicyJesus
    • By JuicyJesus 18th Jan 12, 6:32 PM
    • 3,503 Posts
    • 4,010 Thanks
    JuicyJesus
    • #6
    • 18th Jan 12, 6:32 PM
    • #6
    • 18th Jan 12, 6:32 PM
    I am a Labour member and a leftie par excellence, and sad to say that while Miliband has a good head on his shoulders he's !!!!!!!' useless as Labour leader.

    Seriously, a populist move this may be but given everything are bank charges really the best thing he can think of to make a definite plan on?
    urs sinserly,
    ~~joosy jeezus~~
    • dunstonh
    • By dunstonh 18th Jan 12, 6:42 PM
    • 98,598 Posts
    • 66,990 Thanks
    dunstonh
    • #7
    • 18th Jan 12, 6:42 PM
    • #7
    • 18th Jan 12, 6:42 PM
    Seriously, a populist move this may be but given everything are bank charges really the best thing he can think of to make a definite plan on?
    When you are in the news with Unions slagging you off, your own party doubting you and the public not thinking much of you then what better way to try and gain brownie points than to try and make out you would be some sort of consumer champion. I put it down to trying to divert attention away from bigger issues.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • JuicyJesus
    • By JuicyJesus 18th Jan 12, 7:21 PM
    • 3,503 Posts
    • 4,010 Thanks
    JuicyJesus
    • #8
    • 18th Jan 12, 7:21 PM
    • #8
    • 18th Jan 12, 7:21 PM
    When you are in the news with Unions slagging you off, your own party doubting you and the public not thinking much of you then what better way to try and gain brownie points than to try and make out you would be some sort of consumer champion. I put it down to trying to divert attention away from bigger issues.
    Originally posted by dunstonh
    Exactly. It's just cheap. Especially because the unions slag him off, his party doubts him and the public doesn't think much of him for mostly the same reasons.

    He's a smart guy, but a political moron.
    urs sinserly,
    ~~joosy jeezus~~
    • sampinkfish
    • By sampinkfish 18th Jan 12, 10:22 PM
    • 7 Posts
    • 0 Thanks
    sampinkfish
    • #9
    • 18th Jan 12, 10:22 PM
    • #9
    • 18th Jan 12, 10:22 PM
    He is right about rip-off britain - something needs to be done - because there are too many companies taking advantage of their dominant position - but i would prefer our labour leader to focus big ticket items like the economy, our manufactering etc
    • gavrc
    • By gavrc 19th Jan 12, 8:19 AM
    • 7,681 Posts
    • 823,216 Thanks
    gavrc
    Sorry, but that's what happens in a free and open capitalist market. Profit will always come before customer service/social responsibility/honesty (read: niceness). If you start restricting what profits companies can make they will just concentrate their efforts in countries where they can make as much as they like. The alternative has been show not to work in the good old USSR :-)

    gav
    • I luv cats
    • By I luv cats 19th Jan 12, 8:31 AM
    • 14,071 Posts
    • 72,256 Thanks
    I luv cats
    These add-on charges just make the initial price look good. Who do they think they are kidding!!!

    Imagine the Supermarket saying 0.15p for the beans, 0.05p for the sauce, 0.05p for the tin, 0.01p for the label, 0.05p for the warehouse and 0.05p for serving you NO they charge you 36p (taking into account all costs i.e. payment)
    • dunstonh
    • By dunstonh 19th Jan 12, 9:12 AM
    • 98,598 Posts
    • 66,990 Thanks
    dunstonh
    Imagine the Supermarket saying 0.15p for the beans, 0.05p for the sauce, 0.05p for the tin, 0.01p for the label, 0.05p for the warehouse and 0.05p for serving you NO they charge you 36p (taking into account all costs i.e. payment)
    That argument has been used in financial services without success. As of next year, it will be mandatory to know every entity in the chain who is earning from it rather than the bottom line.

    Some argued that its easier for the consumer to focus on one cost whilst others say transparency is better and that all things that make up that cost should be disclosed. Your tin of beans example shows what happens if you apply it elsewhere.

    I think transparency is good but you can take it too far and make it more complicated than it needs to be.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • JohnLong
    Ah well, it does at least prove that politicians are aware that dirty dealings are afoot - shame they only want to change it when they are in opposition and forlornly looking for votes.
    • Teacher2301
    • By Teacher2301 19th Jan 12, 5:00 PM
    • 403 Posts
    • 226 Thanks
    Teacher2301
    I agree with dunstonh - if Ed was so passionate about these charges why did he and the then labour government 'tactfully ignore' the rise in charges from 1997 to 2010? I, as many probably saw a massive increase in charges being added to things during those years - yes everything was fine because we all prospered but now when things are very tight for everyone, these charges are just money making exercises.

    I'd just like to know why insurance companies etc now charge over 50 for changes to a policy or for other things like 35 for closing an account! My mortgage company (C&G) wanted to charge me 10 for making a overpayment at one point. Please tell me where things like this came from? Why we have to pay for it?

    Finally why do we accept these 'rip-offs'? Have we become so brain-drained by working stupid hours to fuel an ever consumerist society that we have forgotten to question some fundamental flaws in our society?
    'Proud To Be Dealing With My Debts' : Member number 632
    Nerds rule!
    • Credit-Crunched
    • By Credit-Crunched 19th Jan 12, 5:15 PM
    • 2,107 Posts
    • 4,138 Thanks
    Credit-Crunched
    What next for the great leader and his attempt to win back the millions of people his party alienated during their obscene spending spree.

    Milliband promises free Ice Cream to all families

    Millband promises to maximise commute to work to 5 minuts

    Milliband to guarantee that your football team wins every weekend

    Milliband to stop rip off britain and give a free car away to all

    he really is a complete joke, such a wet blanket with no, and i mean no interpersonal skills!
    • MarkBargain
    • By MarkBargain 19th Jan 12, 7:15 PM
    • 1,620 Posts
    • 711 Thanks
    MarkBargain
    "We're not proposing to go back on taking the railways into private ownership"

    Why not? Higher fares than ever with big public subsidy at a time when companies make big profits out of the railways and executives get paid more than ever. It's the same with the profiteering energy companies. There used to be a political debate about the ownership of such utilities but now all parties seem right-wing.
    • waqasahmed
    • By waqasahmed 19th Jan 12, 8:00 PM
    • 1,037 Posts
    • 284 Thanks
    waqasahmed
    "We're not proposing to go back on taking the railways into private ownership"

    Why not? Higher fares than ever with big public subsidy at a time when companies make big profits out of the railways and executives get paid more than ever. It's the same with the profiteering energy companies. There used to be a political debate about the ownership of such utilities but now all parties seem right-wing.
    Originally posted by MarkBargain
    I see nothing wrong with private companies per se, but when it's still subsidised, it annoys me because we don't get what we pay for (from the subsidy)
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