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Loan shark Purnell

firemonkey

firemonkey

Well-known member
Joined
Aug 12, 2008
Messages
131
Location
Southend on sea
You know, what does James Purnell have against the poor? Not content with punishing and penalising people for having the audacity to claim benefits he now wants to finish the job by charging 27% interest on crisis loans. At the moment, crisis loans are interest free as they usually act as a stop gap between getting your benefits and to pay for necessities while you wait.

Even Terry Rooney, chair of the Commons Work and Pensions Select Committee, is appalled: ‘Whoever dreamed this up, particularly at this time of year, must have lost their moral compass’.
http://harpymarx.wordpress.com/2008/12/20/loan-shark-purnell/

Just when you thought it couldn't get worse for the disadvantaged :( :mad:
 
D

Dollit

Guest
This quote is taken from the BBC website who reported on the story

The social fund currently extends £500m a year in interest-free loans to some 1.2 million benefit claimants.
But the government says in future some loans could be run by credit unions, who it says typically charge annual rates ranging from 12.68% to 26.8%.


It doesn't say that the Credit Unions will be charging interest on the loans only that in the future some loans could be managed by them.
 
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