Here’s a bold new policy from John McDonnell. What do we think of it?

Note that the Tories say they have done enough. Do you think they’re telling the truth, considering the number of people who are in debt?

Labour says it would cap the total amount anyone could pay in bank overdraft fees or interest repayments.

Shadow chancellor John McDonnell said he wanted to end the “national scandal” of low paid families trapped in debt.

Labour said the policy could help 2.7 million people who are stuck with permanent overdrafts, saving them the equivalent of £86 each per year.

The Treasury said it had already tightened the rules to protect debtors and cracked down on payday loans.

Source: Labour pledges cap on overdraft fees and interest payments | BBC News


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