Ant and Dec and Wonga

Written by Carl Packman Tuesday, 07 August 2012 21:24
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It is being reported that ITV have allowed Wonga to sponsor the new series of their programme Red or Black? with Ant and Dec.


How much the deal has cost Wonga is not being discussed yet, but the previous sponsors, Dominos Pizza, were said to be paying £1m for the pleasure last year.


While I appreciate that TV channels have to get their funding from somewhere, I believe it is with regret that they should choose Wonga - a payday lender.


I also appreciate that Wonga faces much of the criticism that ought to be evenly distributed to all market players in the payday lending industry.


But none the less, by raising their heads above the parapet, Wonga must expect to bear the brunt of its critics. 


20% of the total amount of employees in this country (approximately 5 million workers) earn less than the UK Living Wage, 9 million people are without access to mainstream credit and on top of this we are all seeing rapid increases in the cost of living.


Carl is the author of the forthcoming Loan Sharks (Searching Finance September 2012).



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