50 word Moneyfesto - Small changes for a big difference 2013

MSE_Martin
MSE_Martin Posts: 8,272
First Post First Anniversary Combo Breaker
Money Saving Expert
edited 12 February 2013 at 2:13PM in Site feedback
Improve Money Rules In 50 Words
What easy changes should our politicians make?

Politicians like big 'legacy' issues, but miss those little easily-implemented changes that help us all. So we want yours...

See the full 50-Word Moneyfesto guide to see what this is about.

How to make your 50 word suggestions

To make a suggestion - just click reply. CLOSING 28 FEBRUARY 2013

Please format it as follows (you'll need to register for the forum to do so - don't worry it's free - we just ask for registration to stop people spamming here).

"A brief headline of what the measure is.
Then a longer description of the exact problem and how it should be dealt with. Keep it as practical as possible, so there is a definitive action. In total NO MORE than 50 words please."


Important extra notes
  • Pls only suggestions, no discussion.
  • This is only on MoneySaving issues please.... all non MoneySaving/inappropriate suggestions will be deleted). Yet it can be on anything MoneySaving.
  • Max one suggestion per post. You can post more than once though
  • No duplication please. Do check no one else has suggested it
  • This is for practical simple changes that positively benefit everyday lives. Not have a go at politicians thread. It's for small, easy practical changes. So things like "freeze MPs pay" or "Rewrite the tax system from scratch" won't make it.
Here are a few of my suggestions (from many) as examples
  • If banks have basic accounts it should be offered to all who are rejected
    Over 1m don’t have bank accounts – yet instead of offering non-credit check basic bank accounts, they’re given the normal forms and rejected. Any bank with a basic account should be made to offer it to all rejected customers (with the right ID).
  • Online statements accepted as ID:
    We’re all encouraged to go for paperless billing, yet banks and others don’t accepted printed statements as a form of ID. We need to get ID rules moved into the web age.
  • Foreign exchange firms should be regulated:
    Foreign currency firms should automatically have to be regulated (not just registered) by the FSA and should be mandated to keep their money in separate accounts – so there is added protection in the event they go bust.
Martin

PLEASE FEEL FREE TO THANK OTHERS POSTS YOU FEEL SHOULD BE INCLUDED IN THE 50 WORD MONEYFESTO
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
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Comments

  • asavory
    asavory Posts: 16 Forumite
    edited 29 January 2013 at 9:17PM
    The short-term 'pay-day' lending industry has exploded in recent years and is just a modern version of back-street money lenders.

    This industry desperately needs regulation to ensure that unscrupulous lenders do not take advantage of vulnerable people. These companies should not be allowed to operate like this in the UK.
  • The value of 1p and 2p coins is next to nothing nowadays. The only purpose they serve is to stop retailers from breaching the next pound barrier. It may also reduce the risk of goldfish injuries.
  • Create a simple number that anyone can dial if they receive an automated phone message (eg. PPI claims) and that message is automatically forwarded to an agency as junk. This agency then listens whether it is an automatic message, detect its location, and has the power to fine and bar the caller.
  • Many of our roads are poorer than those in "3rd world" countries, are an embarrassment, potentially dangerous and cause damage to our vehicles. The Government should take control of road repair measures from councils and provide a website and 0800 number to report potholes.
  • Disabled parking spaces in supermarkets should be enforced. Many spaces are used by drivers with big SUV's as the spaces are wider. Although physically disabled I have to walk through snow and rain while SUV drivers are parked at the door. Could there be a barrier where you need a token, obtained by showing the disabled badge in store, to exit?
    • Force BT to upgrade phone exchanges (LLU) so that rural users can keep up with city (my broadband is only 0.5Mbps).
    • End postcode lottery of mobile phone coverage, so we don't have to climb a hill to get a signal.
    • Extend Freeview digital TV coverage to everyone that wants it.
  • pc1271
    pc1271 Posts: 279 Forumite
    edited 29 January 2013 at 11:44PM
    I'd like to see the likes of BrightHouse banned from targetting vulnerable people on low incomes by selling their massively overpriced goods coupled with expensive credit on the promise of "low weekly payments".

    Accepting that we can't really ban them, we should educate people so that they understand that "low weekly payment" often means "really really expensive".
  • pc1271
    pc1271 Posts: 279 Forumite
    edited 29 January 2013 at 11:45PM
    Force credit companies to give binding quotes using soft credit searches, so that consumers can effectively shop around for credit without affecting their credit report.

    At present, the market does not work because you don't know what rate you will get until you apply, and multiple applications can prevent you getting credit. Break the vicious circle.
  • pixwix
    pixwix Posts: 122
    First Post First Anniversary Combo Breaker
    Forumite
    I'm retired and disabled. You'd think that my major problems would be money and mobility - and indeed they are. But above those - courtesy of local councils and almost every public body - are the jobsworths. We're all sick of them. I'm no more important than anyone else - but when a public servant (servant? that's a joke!) says I can't have something I'd like to know it's not possible rather than that he just can't be arsed. Please remind public servants who it is they're actually supposed to be serving.
  • Clearly label all products so not misleading.

    Errors – customers should be given item for free or supermarket should pay fines as an alternative.

    Labeling should all be standardised for proper comparison e.g. price/kilo etc and no pack prices which do not show weights.
This discussion has been closed.
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