Letters to the editor - 06/09 - Defending Wonga, Green Deal, Best of Twitter

Defending Wonga

[Re: Wonga defends reputation as profits rocket, yesterday]

Payday lenders mean different things to different people. For many on low incomes, they provide a cash bridge until pay day. For others, they are viewed as taking advantage of people in financial need. Those in the latter group are unlikely to have a need for Wonga’s service, so we might wonder why they matter in this debate. The fact that Wonga’s profits have soared amid some public scorn suggests that they may not. Perhaps, like Ryanair, Wonga realises that sometimes positive publicity isn’t what matters.

Name Withheld

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Green Deal

[Re: MP Calls for Green Deal to be ripped up, yesterday]

The claim that “high interest rates are deterring people from signing up to the Green Deal” is not proven. People should take a second look at the actual rates on offer and remember that the golden rule principle of the Green Deal ensures that borrowers stand to save more from reduced energy bills than the cost of their repayments. Slow take-up of the Green Deal has more to do with the warm summer – people turn their attention to energy efficiency in the winter.

Bernard Hughes, The Green Deal Finance Company

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BEST OF TWITTER

No rate change from MPC. How long can they keep this up with UK economic data improving so rapidly?
@asentance

UK 10 year gilts have moved above 3 per cent for first time since July 2011.
@zerohedge

Near term, impact of US Syria strikes on markets, oil price and Iran diplomatic efforts are likely to be small.
@ianbremmer

Aussie Conservatives plan to cut foreign aid and win an election. Priorities matter to the public, I’d guess
@DouglasCarswell