MP backs loan shark action

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ROTHERHAM MP Denis MacShane is backing an e-petition calling for a Commons debate over whether the Government should intervene in the high-cost credit market.

The aim is to get the matter discussed before legal loan sharks start taking advantage of cash-strapped consumers at Christmas.

Mr MacShane said: “Residents in Rotherham are already under increased financial pressure as the cuts start to bite.

“Many may be considering taking out high-cost, short-term loans and I believe they should be protected from exploitation by this unscrupulous sector.”

If the e-petition receives 100,000 signatures it will go before the Backbench Business Committee to be considered for a debate in the House of Commons.

n See http://epetitions.direct.gov.uk/petitions/20219 to view the petition.