Labour to levy payday loans

Ed Balls, Shadow Chancellor, discussed payday lending when visiting Stevenage Credit Union in Hertfordshire.

He said: “Of course the credit union has been here almost 20 years, but there has never been a time when credit unions were more important.

“I want – and I promised Sharon and the team at the credit union – that we will look at what more we can do to support local credit unions like Stevenage.

“One thing we’ve said we’d like to do is have a levy on the payday lenders to have more help for credit unions and we just need to make sure that we can tailor that so it really works.”

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