Labour's credit card embarrassment

Forget about how Labour has saved the world, this story about the extortionate Labour credit card interest rates hasn't got enough coverage:

Labour's card fails to set example on interest cuts

Labour is profiting from a credit card that charges interest at more than nine times the Bank of England base rate

The Labour Party is profiting from a credit card that charges interest at more than nine times the Bank of England base rate and nearly three times that of the most competitive card on the market.

The party is urging supporters to take out its own credit card, on which they pay a standard rate of 18.9 per cent, and a higher 23.9 per cent for cash transactions.

Although ministers and Labour MPs have urged banks to pass on interest-rate cuts to customers, the party had failed to follow suit with its own credit card.

Despite recent dramatic cuts in interest rates, leaving the Bank of England base rate at 2 per cent, the lowest in 57 years, the Labour Party credit card's rate has remained at 18.9 per cent. Five years ago it was set at 17.9 per cent