Finance - Limit Interest Charges
The present debt crisis has thrown into high profile the different cost of borrowing for those at the top and bottom of society. The present problems are made worst for the poorest by the extortionate levels of interest charges frequently levied.
At one time in this country usury - the lending of money for interest - if not illegal was certainly considered immoral. In certain societies it still is. Whilst a modern economy depends upon the availability of money for individuals and businesses to borrow there should surely be a limit on the level of return that lenders can reasonably expect.
It is suggested that a maximum level of interest should be enacted to limit excessive returns and reduce the activities of loan sharks.
This e-petition has been rejected with the following reason given:
There is already an e-petition about this issue.
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Wednesday 17 August 2011