While media and public attention is on our fiddling MPs and the new, unelected, aristocracy governing us, the banks are busy shafting us all.

Our bailed-out banking cartels are busy raising interest rates. The half a per cent base rate is totally irrelevant.

Bank-owned credit card companies are now mostly charging their customers 29.9 per cent.

Halifax has now informed its users they must allow seven days for payments to reach it.

Unhappy because the FSA forced it to reduce its late payment and overlimit payments from £25 to £12, it is finding new ways to fill its coffers.

Demanding earlier repayments effectively increases the interest rates charged, and again allows it to justify slamming on late payment fines.

If the Government was intent on improving the economy it would decrease credit card rates and fines.

This would release funds we could spend to boost the economy.

Instead, money is shovelled into bank vaults for the banks’ next incompetent, disastrous venture.

Lending it to the peasants is not in their interest.

Len Lierens
Southchurch Road
Southend