LABOUR’S John Denham (In My View, January 1) really should think twice before he puts his name to the latest whips’ handout – this time getting heavy with credit card companies.
Actually, the Labour Party itself is encouraging its own members to use a credit card that charges interest at more than nine times the Bank of England base rate and nearly three times that of the cheapest credit card on the market.
The Labour Party credit card charges a standard rate of 18.9 per cent and a higher rate of 23.9 per cent for cash transactions. Labour Ministers and MP’s have asked banks to pass on recent cuts in interest rates to their customers, but their own party has failed to do this with its own card.
Despite recent interest cuts which have bought the base rate down to two per cent, the Labour Party credit card tariff has stayed at 18.9 per cent, whereas Labour Party members could pay just 6.8 per cent with Barclaycard.
Incidentally, following the recent pathetic cut in VAT, Labour’s own shop did not pass on all the reduction.
Mr Denham and his party should hang their heads in shame.
MRS JILL MANSFIELD, Hythe
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