McDonnell's credit card rule would hurt borrowers

John Mc Donnell will say Labour would cap credit card interest

But Mr McDonnell won loud applause as he told delegates: "We will go further".

But the Conservatives said Labour's nationalisation plans, as well as its intention to buy out PFI contracts for the running of schools, hospitals and other public services, would result in "a collapse in business investment and a crash in the value of the pound".

"With many independent think tanks and committees declaring the NHS is at breaking point, removing this financial burden is the only sensible option and I welcome John McDonnell's announcement on this at the Labour Party conference".

We will create a Strategic Investment Board to drive funding into the technologies of the 4th industrial revolution.

'The government could intervene immediately to ensure that companies in tax havens can't own shares in PFI companies, and their profits aren't hidden from HMRC.

These are borrowers who are now paying more in interest and charges than the size of their original loans.

Instead other remedies which are being put forward by the FCA would encourage borrowers to increase the rates of repayments on their credit card bills earlier in the debt process, which would be a more effective way of helping struggling borrowers. He warned that if the Conservatives did not bother to do anything on this matter, then the law will be amended by the subsequent Labour Government.

The shadow chancellor was cheered as he confirmed that a Labour government would scrap university tuition fees, overturn Conservative trade union legislation and nationalise rail, water, energy and the Royal Mail.

Asked about the "they" his colleague was referring to, Mr Corbyn said he thought Mr McDonnell was "talking about the people John doesn't like", before adding: "I think he's looking back again to the experience of the past Labour governments". Once you pick up the initial debt, it can easily spiral out of control.

And IFS director Paul Johnson told BBC2's Daily Politics: "This is not about just getting rid of austerity or moving back to where the last Labour government was".

He hailed previous Labour governments which have presided over periods of great change.

"This is a party of all communities around the country. Labour said more on specific policy and shadow ministers were more accessible and open".

Labour deputy leader Tom Watson will use the closing moments of his conference speech to lash out at the UK's "biased media", specifically targeting Rupert Murdoch's newspapers.

"We need healthy competition between a multiplicity of actors, with a renewed focus on innovation and positive market disruption is what our industry needs at this pivotal moment".

Related News:

  • IPhone X battery larger than iPhone 8 and iPhone 8 Plus

    IPhone X battery larger than iPhone 8 and iPhone 8 Plus

    Apple is also been keen to big up its new A11 Bionic chip , which offers a performance boost across the phone's operations. In either case, the company likely resorted to equipping the iPhone X with a larger battery due to its massive screen.
    Caribbean under hurricane watch again with Tropical Storm Maria following Irma's track

    Caribbean under hurricane watch again with Tropical Storm Maria following Irma's track

    The storm is now is expected to become a hurricane be next week but will remain over open waters and pose no threats to land. Most recently, the center of the storm was reportedly located 875 miles west-southwest of the Cabo Verde Islands.
    Two Police Officers Shot In New Haven

    Two Police Officers Shot In New Haven

    Officers Eric Pasino and Scott Shumway were each shot once, and the unidentified woman was shot several times, Hartman said. The officer, who was shot in the lower torso area, along with the suspect were taken to a hospital for treatment.
  • Saudi Arabia to allow women drive

    Saudi Arabia to allow women drive

    A photo provided by the Saudi Royal Palace on September 20 shows King Salman speaking at the Royal Palace in Jeddah. Saudi Arabia was the only country in the world where a woman could go to jail for driving, before the new policy.
    Penn State Beats Iowa on Final Play Behind Saquon Barkley's Huge Performance

    Penn State Beats Iowa on Final Play Behind Saquon Barkley's Huge Performance

    More than a smattering of boos could be heard at Kinnick Stadium as the swarming Nittany Lions defense was in total command. Scott fumble at the goal line that took six points off the board and handed Notre Dame the ball at the 20-yard line .
    AA:US urges 'unified Iraq' as country's Kurds vote

    AA:US urges 'unified Iraq' as country's Kurds vote

    The authorities of Iraq have announced that they will not recognize the results of the referendum since it is a violation of the Constitution.
  • After Uber apology, London mayor welcomes talks

    After Uber apology, London mayor welcomes talks

    Drivers must pass a criminal and driving history check as well, as a third-party vehicle inspection to obtain a DA from the RMS". With Sadiq Khan also being the chairman of TfL, it's extremely likely that the next step will be talks between Uber and TfL.
    10-man Tottenham defeat West Ham 3-2

    10-man Tottenham defeat West Ham 3-2

    Alli's shot was saved by Joe Hart but the ball fell straight for Kane who tapped into an empty net. West Ham are in the 17th position with four points after suffering the fourth defeat this season.
    Raila Odinga: I won August 8 poll but results were doctored

    Raila Odinga: I won August 8 poll but results were doctored

    The IEBC blamed network failures for missing and delayed tally forms, with some polling stations unable to scan and send the documents on time.
  • Myanmar police: Insurgents killed 28 Hindu women and boys

    Myanmar police: Insurgents killed 28 Hindu women and boys

    The Security Council earlier this month called for "immediate steps" to end the violence, following a closed-door meeting. "Everyone knows that the Rohingya have no documents on them as they are not recognized as citizens of Myanmar ".
    United Nations  seeks rapid increase in Rohingya aid; Myanmar finds more bodies

    United Nations seeks rapid increase in Rohingya aid; Myanmar finds more bodies

    But the Bangladesh High Commissioner to India Syed Moazzem Ali has clarified that his "PM has given temporary shelter". Buddhists are the majority in Rakhine state but there are also Hindu and Muslim communities as well as the Rohingya.
    Utah's Brigham Young University to Sell Caffeinated Drinks

    Utah's Brigham Young University to Sell Caffeinated Drinks

    She said some older Mormons in her Salt Lake City congregation still believe all caffeine is prohibited. Shelby Slade covers community events, issues and stories for the Daily Herald.


Most liked

Judge breaks rookie homer record
Judge leads the American League in homers after hitting only seven - while batting.179 - from July 14 through the end of August. Sabathia was credited with the win for the Yankees for working six innings and giving up four hits and three runs.

WAFU Cup: Ezenwa Named Best Goalkeeper As Ghana Stars Sweep Awards
Coach of the home-based Eagles, Salisu Yusuf admitted that he lost to a determined Ghana side because they created more chances. Nigeria pulled a consolation goal in added time as Rabiu Ali ideal inched free kick beat Ghana's Joseph Addo at his near post.

Florida gas prices steadily declining
MI - again - topped the decline in state-average gas prices from a week ago, according to figures released today by GasBuddy. But most of those refineries have since reopened and only about 5 percent of the nation's capacity remains offline.

Sydney flights delayed due to air traffic control problem
Passengers are facing delays of up to three hours while others are having to wait until tomorrow morning to board a flight. This feeds into the radar picture and without it, controllers can not see which plane is which.

Who was Eman Ahmed?
The 36-year-old Egyptian, estimated to be world's heaviest woman until January this year, was bed-ridden for last three years. They say she had been heavy from the moment she was born, and she lost the ability to walk when she was just 11.

Iran successfully tests new ballistic missile: state media
As a result, Washington has tightened sanctions on Iran - rather than loosen them, as the JCPOA was meant to accomplish. The missile can carry multiple warheads and its range would make it easily capable of reaching Israel and Saudi Arabia.

Anthony Weiner sentenced to 21 months for sexting underage girl
Weiner darted to his vehicle after reading his statement without taking questions, and he will report to prison on November 6. The maximum penalty he faced was 10 years . "This is a serious crime that deserves serious punishment", Judge Cote said.

Sens. Warner, Kaine Call on Republicans to Rethink Graham-Cassidy Bill
One of the first people to praise McCain for his decision was late-night show host Jimmy Kimmel . The Senate Finance Committee hearing is being held even though the measure's prospects are dim.

Ali smashes ton as England bt West Indies
Stokes holed out on the cover boundary off Rovman Powell having hit two of his three sixes in succession off Ashley Nurse. The biggest concern for West Indies ahead the 3rd ODI was the injury scare for their swashbuckling opener Chris Gayle.

Police say gunman captured after opening fire at church
According to the Nashville Fire Department's twitter account, eight people were wounded, including the shooter. Antioch is part of the Nashville metropolitan area and lies along Interstate 24 southeast of the city.

Arsenal Can Be Proud of Kieran Gibbs Says Arsene Wenger
WEST BROM travel to the Emirates for Monday Night Football looking to end Arsenal's ideal home record. The Baggies have one point in their last three Premier League outings.

Martial in a 'happy' place
Rashford has enjoyed a clinical start to the season, claiming six goals and four assists for club and country in six starts. People say you have to play Rashford as a centre-forward but you can play him anywhere because he is good enough.

Iraq, Turkey, Iran to coordinate countermeasures to Kurdistan referendum
Iraq's central government previously threatened to intervene militarily if the vote leads to violence. Among other things, the referendum could jeopardize Kurdish trade relations in the region.

President Trump backs Luther Strange at rally in Huntsville
And of course, you know, if something happens on the settlement front, we'll have to review that. This is a once-in-a-lifetime chance to see the president, but I am a Moore supporter.

Uber starts online petition to reverse London ban, gets 500000 signatures
Needless, it is a clear indication that a large number of Londoners are in favor of the company. But he also suggested that Uber might eventually be allowed to continue operating in London .