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Carl Packman on Stella Creasy's campaign against payday loans

Written by Ashwin Rattan Monday, 09 April 2012 18:37
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Stella Creasy was interviewed in The Guardian (8th April 2012) on the subject of payday loans.

 

To read the full interview, click here:

 

Carl Packman author of the forthcoming Loansharks, comments:


''It is thanks to Stella Creasy that the issue of exorbitant payday loans is on the table at all today.

 

Her hard work and tireless campaigning on this subject have knocked her critics for 6 - though sadly the coalition government are still working at a snails pace to catch up.

 

The pertinent issues that are raised in today's interview, namely that poorer tenants ought to go to Bright House and that use of payday lenders is down to financial imprudence, is classic snobbery, such that Owen Jones was able to pinpoint in his book Chavs.

 

The things these snobs tend to forget are social and financial exclusion, cutting savings initiatives, rising costs in utilities - these are more likely to see people fall foul of legal loan sharks.

 

And with rising unemployment - 100,000 more by Summer 2012 - limp growth and wages freezes, the situation will only get worse before it gets better.''


Loansharks will be published by Searching Finance in September 2012 

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