Adrian Sanders
Main Page: Adrian Sanders (Liberal Democrat - Torbay)Department Debates - View all Adrian Sanders's debates with the Cabinet Office
(10 years, 7 months ago)
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Mr Adrian Sanders (Torbay) (LD)
I recently joined the Plough and Share credit union in my constituency. Credit unions can help to ensure that a lot of people do not have to go to payday lenders. What more can the Government do to support credit unions and encourage anybody with a few pounds to spare to put them into a credit union and take trade away from awful payday lenders?
The Prime Minister
I am grateful to my hon. Friend for raising this issue. The Government strongly support credit unions and think them a big part of the answer to the problems of payday lending. We have invested £38 million in credit unions and want to see them expand. Also, for the first time, we are properly regulating payday lending through the new regulator and are prepared to consider all the steps that can be taken to sort out this problem.