According to the ULC, people on low incomes should also be able to benefit from additional state support. Purchasing power has decreased considerably for many people as a result of general inflation or unemployment, particularly partial unemployment, due to the pandemic. In order to strengthen purchasing power in Luxembourg, the ULC proposes to reintroduce the index advance, which was abolished in the 1980s, in addition to making the minimum wage in Luxembourg tax-free.
The ULC deplores the fact that many places now only accept payment by card, despite the fact that refusing to accept cash is punishable by law. The closure of many bank branches and the disappearance of cash dispensers are a further thorn in the side of consumers, the association criticises.
The ULC is rather disappointed with the behaviour of the Minister of Finance who, in the eyes of the association, does not sufficiently defend the interests of the vulnerable and the elderly.
Its president, Nico Hoffmann, also regrets the exorbitant bank charges and the negative interest in force for some individuals. Hoffmann states that the ULC has noticed that these negative interests are applied since this summer “by some banks on the savings of some of their customers”. This can start “at €500,000 but also at €1 million”. The ULC considers this a dubious practice and calls on legislators to regulate this situation and ban negative interest altogether.
Finally, the ULC hopes that the draft law on class-action lawsuits will be adopted before the end of the year, provided that the issues of admissibility and financing are guaranteed.
