consumer

  • Call for Evidence on T&Cs

    The use of complicated and extensive Terms and Conditions (T&Cs) is under government review, Business Secretary, Sajid Javid, has announced. Last year, research from consumer group Which? found that some of the longest T&Cs were over 38,000 words, longer than Shakespeare’s “Hamlet”! The Department for Business, Innovation and Skills is now asking consumers who have experienced issues ...

    Posted at March 1, 2016 | By : | Categories : News | Comments Off on Call for Evidence on T&Cs
  • CMA updates guidance on unfair contract terms

    Consumer-facing businesses are being offered help complying with consumer law as the Competition and Markets Authority publishes new guidance on unfair contract terms. The move follows changes to the law in the Consumer Rights Act 2015, which come into force in October this year strengthening two pieces of legislation that target contract terms and notices that could be used to give firms ...

    Posted at August 1, 2015 | By : | Categories : News,Rural Business | Comments Off on CMA updates guidance on unfair contract terms
  • Spending power confidence drops

    The latest Lloyds Bank Spending Power Report shows overall consumer confidence taking a step backwards last month, after seeing an upward trend since the start of the year. Respondents' feelings about their current and future financial situations levelled off, with uncertainty in the run up to the General Election potentially restraining confidence towards personal finances (down 1%); household finances (down 1%); and the country's finances (down 5%). The data also shows a fall in essential spending in April (-0.8%) , ...

    Posted at May 26, 2015 | By : | Categories : News,Rural Business | Comments Off on Spending power confidence drops
  • Unsecured debt surpasses pre-crisis peak

    The average UK household is set to owe close to £10,000 in unsecured debt by the end of 2016, more than ever before in cash terms, according to PwC’s latest report on the Consumer Credit market. Total outstanding unsecured borrowing grew by nearly £20 billion in 2014 or 9%, its fastest rate of growth in at least a decade, to reach £239 billon or close to £9,000 per household in 2014. In cash terms, the figure ...

    Posted at March 23, 2015 | By : | Categories : News | Comments Off on Unsecured debt surpasses pre-crisis peak
  • EY: tough times ahead for consumer oriented business

    Real take-home pay will still lag behind pre-crisis levels in 2017, according to a new report on consumer spending from the EY ITEM Club. The respected economic forecaster reckons households are facing a lost decade of real wage growth and warns that consumer oriented businesses face a challenging environment as annual wage growth over the next three years remains well below the 4.5% to 5% rates typical before the crisis. According to the report, consumer spending growth ...

    Posted at September 29, 2014 | By : | Categories : News | Comments Off on EY: tough times ahead for consumer oriented business
  • New consumer watchdog launched

    The Competition and Markets Authority (CMA) has been launched today as the UK’s primary competition and consumer agency. Bringing together the Competition Commission with the competition and certain consumer functions of the Office of Fair Trading, the CMA has a range of new responsibilities and powers to ensure it meets its mission of making markets work well for consumers, businesses and the economy. These include tighter timetables for investigations, a stronger role in ensuring competition in regulated ...

    Posted at April 1, 2014 | By : | Categories : News | Comments Off on New consumer watchdog launched