Without a shadow of a doubt, it is the Tories’ economic and social policies which are the driving force behind people turning to vultures like payday loan companies and allowing them to prey on and profit from peoples’ desperation. I would urge people to look to a credit union for small, low interest loans. It’s free and easy to set up and keeps money in your community – not executives’ pockets.
The roll out of Universal Credit which cuts incomes, rigged disability assessments, a minimum wage below the real living wage, precarious work through zero hours contracts, and the two child tax credit cap are all policies which are forcing people to turn to payday loans.
It’s no surprise that areas like those in Motherwell with high deprivation and low incomes are the most affected by the Tories’ policies and payday loans.