George Osbourne has spent most of the year stating that a cap on pay day loan companies and their astronomical interest charges is not necessary, but either he has seen the light, or he has been troubled by the popular support for Labour’s cost-of-living campaign, because suddenly he is in favour of a cap on the interest these companies can charge.

Although why it has taken him so many years to decide that charging desperate people 3,000% interest is a bad thing, is still not clear


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