Reforms to make banking competition work for consumers have reached an impasse. Do nothing and we can expect nothing to result, but even with Project Merlin – which was established by the four major UK banks (HSBC, Barclays, Royal Bank of Scotland and Lloyds Banking Group) and hopes to improve stability and competition between banks – lending fell for Britain’s top banks in every quarter a year after its implementation.
Carl Packman, Author at NewStart
The decision by the Croatian government to cancel the debts of its poorest citizens highlights the price of consumer debt on the whole of society, as Carl Packman explains
With the scrapping of the social fund and the confusion around budgeting advances under universal credit more people risk having to visit high cost credit lenders just to get by. But No Interest Loan Schemes offer an alternative to that. With a look at how they work in Australia, more local authorities in the UK could build support for this lifeline.