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Abolish Insurance Finance

Submitted on Tuesday 6th December 2011

Published on Wednesday 7th December 2011

Current status: Closed

Closed: Thursday 7th June 2012

Signatures: 4

Tagged with

Economy ~ Money ~ UK

Petition Action

Abolish Insurance Finance

Additional Information

Over 70% of the uk population cannot afford to pay legally binding insurance in a lump sum such as that required for cars, thus, effectively resulting in billions of pounds being lost to financial institutions that would be better served in the economy.

The right wing irony is that if you earn in excess of £60 - 70 000 then you could save upto £500 a year compared to those of the working class.

The lower classes are being penalised for a legally binding contract because they cannot afford to pay their insurance as a whole sum.

By abolishing the interest paid on finance a household containg 3 drivers could save upto £1000 a year! Money that would be used in a more efficient means to help the family and the economy.

I, and many others would like the government to take heed and devise a policy that would allow fair and just equality for a legally binding payment that is required for the whole of the UK population.

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