Payday Loans: Debt Collection — Question

Part of the debate – in the House of Lords at 3:01 pm on 1 July 2014.

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Photo of Lord Alton of Liverpool Lord Alton of Liverpool Crossbench 3:01, 1 July 2014

My Lords, will the Minister confirm that personal debt in Britain now stands at a staggering £1.4 trillion, and that in one recent year, payday loans were advertised in more than 400,000 spots on television? This included advertising, some of it by Wonga, that was targeted at young people and used puppets. Surely it cannot be in our national interest to promote indebtedness on that scale and to have a new rising generation encouraged to take out personal debts as well.