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Friday, 22 July 2016 14:00

Why David Cameron and the FCA are so wrong about price caps

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David Cameron is responsible for price caps, what we want to do is take a look at this price capping thing sensibly and logically.

In a time when hundreds of lenders are competing to get borrowers business, David Cameron decides he wants to bring out the old price caps. The market just isn't working he says, it is just not competitive enough.

Wait a minute, what?

If that is true, there are 6 major utility companies out there and they are almost certainly price fixing - why isn't he price capping them? Payday loans are optional, Gas and Electric are fundamental. In fact most people probably need a payday loan to pay for their utilities.

The point is, why isn't he capping the elephant in the room? Gutless, spineless and hypocritical is what we have here.

Then we have their track record to look at

All three main parties are in debt to a point where any normal company would be put out of business and have receivers called in. The exchequer is bankrupt and running at a massive deficit each year. now they decide to tell us how to run our business, what so we can join them on skid row? No thanks!

The wrong's of what is happening

The Government stopped getting involved private businesses and setting prices in the 70's. Why are we on our way back to it? The Payday loan industry is only the start, as we said, Cameron and his buddies now have to explain why they aren't capping other industries.

Yes Loans will never contact you, we will never market to you. Don't send money to people who phone you claiming to be us and asking for fees in order to get your loan. You will lose your money.

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