Which? responds to political debate on "responsible capitalism"

19 January 2012

On Thursday morning, Which? hosted a breakfast event with Ed Miliband MP, Leader of the Opposition, and a group of consumers. Ed answered questions and listened to attendees' views and experiences of dealing with companies and public service providers during the economic downturn.

Peter Vicary-Smith, chief executive of the Which? group, says:

"People are experiencing the biggest squeeze on their household incomes for years. At the same time they're often faced with increasingly complex decisions when they buy products and services. There's no doubt that a tougher approach by consumer watchdogs is needed in some industries to protect people from unfair practices and excessive or hidden charges.

"We have a banking industry that has been rocked by successive mis-selling scandals and an energy industry with dire levels of customer satisfaction. It's right that political leaders take a stand against these rip offs and do more to make sure that the businesses which play fair flourish, and those that don’t are punished. The Government should set an example by forcing the bailed out banks to work in the interest of consumers, while putting people first should be the rule in public sector services too."

Ed Miliband MP, Leader of the Labour Party, says:

"I strongly believe that the responsible capitalism agenda is incredibly important to people at this time when people are hard pressed. We are determined as a party to show that we will stand up for the squeezed middle.

"But I also recognise that this agenda will only succeed if we work with organisations like Which? because its their role in pressing forward the case of the consumer, in mobilising consumers on these important issues, which will make an enormous difference. We as a Labour Party are determined to be champions of the consumer. We are determined to stand up against the vested interests that are imposing a surcharge culture on people. And we look forward to working with Which? in the months and years ahead to stand up to the vested interests and make Britain a fairer place."