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Thursday, 13 September 2012

Stop "Legal Loan Sharks"

The Co-operative Party is backing a campaign to regulate companies offering easy credit at exorbitant rates of interest.

Stella Creasy, who is the Labour and Co-operative MP for Walthamstow in East London spoke this week in Brighton at a TUC fringe meeting on this subject, alongside Owen Jones, the bestselling author of Chavs (which looks at the demonisation of the working class  in Britain)

Stella was joined in July by Ed Miliband, Leader of the Labour Party, and by Tom Watson MP, in launching a campaign pack , in association with the Co-operative Party and others.

Stella writes:  "This Government has so far refused to act to tackle the high cost credit companies who are pushing families into crippling debt across Britain. But that doesn’t mean that we can’t take measures to protect them and help make the case for a change in the law to cap the costs of credit. This pack is designed to help with ideas and actions you can take either on your own or together with others to stand up to these companies."
Incidentally, Eastbourne's Liberal Democrat MP Stephen Lloyd has opposed any action against these companies. You can click below to watch his speech last year attempting to justify this, here. If you don’t agree, then the campaign pack contains information to help you write to him, or other elected MPs urging action !

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