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Finance - Limit Interest Charges

Submitted on Wednesday 17th August 2011

Rejected on Wednesday 21st June 2017

Current status: Rejected

Rejection code: duplicate (see below for details)

Petition Action

Finance - Limit Interest Charges

Additional Information

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.

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This petition was rejected

The Government e-Petitions Team gave the following reason:

There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

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