Urgent: End Legal Loan Sharking Vote in Parliament Tuesday 28 June - Ask Your MP To Vote Yes! 
 




Whether payday loans, hire purchase agreements or doorstep lending, the high interest rates and penalties they charge are hitting families across our country- and it’s all completely legal. These so called legal loan sharks are rapidly expanding their operations in the UK, taking advantage of the lack of regulation and growing demand for finance as more and more families find they can't make it to payday. Already nearly half of all British households are struggling to make ends meet- and the evidence tells us that 10% of these people are in debt because of high cost credit charges.
 
Next week Parliament has an opportunity to ensure the Government confronts these problems by voting for an amendment to the Finance Bill. If the amendment is passed, the Government will at last be forced to tackle this issue head-on, despite repeatedly trying to avoid doing so. Although this is short notice, you can help make this happen by making sure you ask your MP to vote for New Clause “High Cost Credit Lending”. Below is a suggested text that you can send them ( you can find their email here !).
 
 
 Please forward this email to friends and family around the country so that we can make sure as many MPs as possible know the strength of feeling on this issue. This is a fantastic opportunity to make a real difference and to help put an end to exploitation by high-cost lenders.
 



 
Stella Creasy
Labour and Co-operative MP for Walthamstow
 
 
Suggested Text to use to email your MP
 
 
Dear XXXX MP,
 
The practices associated with high-cost lending are causing misery for thousands of people across the country as they find themselves unable to borrow from banks and struggling to make ends meet. I believe that this industry should be more tightly regulated so that companies are prevented from causing families across Britain to get into more debt for the sake of a higher profit margin. If taxation measures in the Finance Bill are being used to curb “problem drinking”, why can’t taxation also be used to tackle “problem lending”?
 
On Tuesday you as my MP can do something to change this by voting for the New Clause on High-cost Credit tabled to the Finance Bill. This calls on the Government to review taxation measures in order to determine if they can be used to prevent high-cost lenders from causing consumer detriment, and to increase competition in this captive market. I urge you to vote for this amendment, and to get in touch with Stella Creasy, MP for Walthamstow, to register your support for this measure.

http://www.workingforwalthamstow.org.uk
Stella Creasy: Labour and Co-operative MP for Walthamstow
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