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Labour plans loan that is payday levy to buy low-cost credit

Labour plans loan that is payday levy to buy low-cost credit

Labour has pledged to impose a levy when you look at the earnings of payday loan providers to greatly help support lending that is lower-cost credit unions and improve cash advice solutions.

Shadow company minister Stella Creasy told the BBC it absolutely was time that is”payback these payday lenders”.

Cash advance providers say they provide you with solution that is valuable their customers.

But Ms Creasy, whom became Labour’s shadow customer and competition minister inside the present reshuffle, claimed: “a handful of these lenders are creating a million pounds each week. Read More “Labour plans loan that is payday levy to buy low-cost credit”