I am getting on a bit but I seem to remember a time when there were rules (laws?) governing the minimum amount of deposit when buying on extended credit.
Can someone confirm or correct this for me please?

they don't have to legislate, people just need to stop blindly accepting what the store throws at them and either walk away or demand better terms.

but that's the problem, people don't walk away, they just take on the rediculous credit and then struggle to pay, under Universal Credit it will be even worse as people will get their benefit payments direct, rent will be way down the list of some people's priorities with cash in their hands.

It makes a change for the Yorkshire Post to have the full story

I guess The Business Post jumped the gun a bit this morning.

that type of idiocy is not just the preserve on those on benefits. people tend to spend what they have.
but, people are walking away, they've decided to spend their money on other stuff like the debts they racked up pre 2008. my spare cash is going onto paying down my mortgage, not adidas trainers.

Its really difficult to calculate the repayments though, as illustrated ... rlhttp://www.huffingtonpost.co.uk/2013/01/16/wonga-henry-raine-maths-public-accounts-commitee_n_2488079.html?utm_hp_ref


Reading through that report though he does make some valid points and the MP's quizzing him make some rather naive ones (or try to), I hope their interview with him has enlightened them a little.

It's interesting how many people bemoan the negative impact of supermarkets on local economies, whilst blithely tripping off to one every week for their big shop; it's similar to the phenomenon that sees people complain about traffic whilst being traffic, or about intrusive journalism whilst regularly buying the type of organs which purvey celebrity tittle-tattle.

A perfect example is the current storm of faux-sentimentality about HMV, from people who probably haven't bought anything from there in years, preferring instead to order from cheap, offshore based online retailers or even worse, steal their music and films from file-streaming websites.

We have become addicted to cheapness and convenience and in a recession, how do you persuade people away from that addiction? I'm not sure you can, so the high street casualties are likely to continue for the forseeable future.

Believe me, I know the people who are shopping in BrightHouse and getting WONGA or PayDay loans, they are still spending like crazy and see no reason to stop.

Mr Heath's take on retail casualties: www.cityam.com/latest-news/allis ... -dinosaurs Which seems to follow the consensus on here.

Mr Heath's take on retail casualties: www.cityam.com/latest-news/allis ... -dinosaurs Which seems to follow the consensus on here.

rlRecession, nope, expanding Croydons shopping complexrl

does seem an odd time to be investing £1bn

Why? Their other two places have been booming. Also there is the lead time factor - by the time its built they'll be expecting the recssion to be over.

so the fact that the Mayors Office are investing tax payers money when the rest of the country is meant to be skint is a good idea?

at least they'll have some nice new shops to riot in next time I guess.

It is quite clear that the way for people to improve their lot in this country is by rioting. In Thatcher's era inner city rioters were rewarded with millions of pounds in investment and nice new leisure centres, etc. Why would it be any different now?

It's due to start in 2015, I do hope that in two years time things have started to improve.
Anyhoo aren't we supposed to be encouraging the private sector to invest?