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CONSUMERS SPEND£8.3BN A YEAR SORTING OUT SHODDY DEALS

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The Office of Fair Trading says it costs consumers£8.3bn a year sorting out the mess caused by defective goods, sh...
The Office of Fair Trading says it costs consumers£8.3bn a year sorting out the mess caused by defective goods, shoddy services and poor information, reports the Financial Times (p1).

The government's consumer protection watchdog also suggested that the one million cases dealt with annually by local authority trading standards departments only scratched the surface.

The biggest blow to consumers was the estimated£3bn in lost earnings incurred trying to rectify situations.

The report found that consumers also spent£1bn putting things right,£600m on replacements, and almost£1.2bn on telephone calls, stamps and legal costs.
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