The little things just seem to matter more to our politicians

Posted: November 28, 2013 by rainbowwarriorlizzie in Uncategorized

alittleecon

Two announcements seemingly made out of the blue this week reminded me that politicians are very good at shouting about things that are at best symptoms of a wider problem, while completely ignoring the real issues.

The first came on Monday, with George Osborne’s announcement that fees on payday loans were to be capped. Very good you might say, but is this a solution to anything significant? The problem is not really the fees, but the scandal that so many are driven to take out these loans in the first place. If you do nothing to tackle the underlying causes, it doesn’t matter how you regulate these loans, people will still need to seek out alternative sources of finance, and payday loans – even with capped fees – will still be pretty bad news for most. So a solution to the problem should start with seeking to increase the number…

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