Labour’s McDonnell vows to cap credit card interest

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Labour’s McDonnell vows to cap credit card...
 © CyprusWeekly 2017
A UK Labour government would cap credit card interest so that no-one pays back more than twice the amount of their original borrowing, shadow chancellor John McDonnell has announced.

In his keynote speech to Labour’s annual conference in Brighton, Mr McDonnell will accuse the Government of creating a “debt crisis” which is becoming a threat to the economy, with 3 million people trapped in persistent debt with credit cards in the red by a total of £14 billion.

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Labour’s McDonnell vows to cap credit card interest


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