Daily Mirror (Northern Ireland)
We’ll halt the credit card rates rip-off
Corbyn will not rule out illegal action Vow to help 3m in debt hell But Brexit row is simmering
LABOUR will today vow to help lift millions of people out of credit card debt by bringing in a cap on interest payments.
Three million are stuck in a vicious circle of “persistent debt”, according to the Financial Conduct Authority.
Writing in today’s Mirror, Shadow Chancellor John Mcdonnell reveals a Labour pledge that will ensure no one pays back more than twice the amount they borrowed.
He says: “Britain is facing a Tory debt crisis at almost every level.
“That’s why today I am announcing a cap on the interest people pay on their credit card debt. No one will pay more than they originally borrowed in interest payments under Labour.
“We’ll free families from the persistent debt trap.”
Mr Mcdonnell will tell delegates: “If the Tories refuse to act, I can announce today that the next Labour government will amend the law.”
The average amount struggling families owe on cards is £3,500.
His vow came as Labour, at its annual conference in Brighton, said they were preparing for Government. Chants of “Oh, Jeremy Corbyn” greeted the Labour leader during his first conference appearance. He received a rapturous reception from party members, with the start delayed by 30 minutes due to the huge number of delegates. But his welcome threatened to be overshadowed as Labour was hit by a furious internal row over Brexit.
Mr Corbyn faces a revolt from proremain MPS after rejecting calls to stay permanently in the single market.
A group of 40 MPS, peers and union leaders say Labour must “go further” than supporting single market and customs union membership only during the two-year transition period.
A split also emerged over the length of the transition. Shadow Home Secretary Diane Abbott said it should be no longer than two years while Mr Corbyn refused to set an end date.
Pro-remain MPS were furious after conference delegates voted not to debate Brexit. Mr Corbyn was spared the risk of delegates voting for a potentially embarrassing policy change to stay in the single market permanently.
PRO-EU Labour MP Chris Leslie tweeted: “No Brexit vote at conference?! How utterly ridiculous.
“Many members will be shocked at manoeuvring to avoid biggest issue of our time”.
Heidi Alexander, of the Labour campaign for the single market, added: “I am gobsmacked.
“How can Labour not have a full and proper debate on Brexit policy? We will be a laughing stock.”
Shadow Brexit Secretary Keir Starmer MP will argue today that, on the EU talks, “Labour are now the grown-ups in the room”. He will say: