Labour plans payday loan providers levy to invest in low-cost credit
Labour has pledged to impose a levy regarding the earnings of payday loan providers to simply help support lower-cost financing from credit unions and improve money advice solutions.
Shadow company minister Stella Creasy told the BBC it absolutely was “payback time for these payday loan providers”.
Payday loan providers say they give you a service that is valuable their clients.
But Ms Creasy, whom became Labour’s shadow customer and competition minister within the reshuffle that is recent stated: “some of those businesses are creating a million pounds per week.
“they must pay their share for the harm they truly are doing.”
She said the companies had been people that are”aggressively targeting as soon as they have them within their claws, they keep squeezing and squeezing them”. Continue reading Labour plans payday loan providers levy to invest in low-cost credit
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