"The first and last test of economic policy is whether living standards for ordinary families are rising."
Ed Miliband speaks to people affected by pay day
loan users at the London Mutual Credit Union in Peckham. Photograph: Getty
Images.
It is great to be here in Battersea with you today.Last Friday, I was in my constituency, at the local Citizens Advice Bureau.And I talked to some people who had been preyed upon by payday lenders.
There was a woman there in floods of tears.
She was in work.
But she took out a payday loan for her deposit so she could rent somewhere to live.
And then disaster followed.
A payday loan of a few hundred pounds became a debt of thousands of pounds.
She still faces bullying, harassment and threats from multiple payday lenders.
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