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PAYDAY LOAN COMPANIES

EDM (Early Day Motion) 299: tabled on 02 July 2012

Tabled in the 2012-13 session.

This motion has been signed by 52 Members. It has received 3 amendments.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Amendments to this motion

There have been 3 amendments submitted to this motion.

View details of the amendments

Motion text

That this House notes the warning by the trade union, Unite that more than 80 per cent of British workers are unable to make their wages last the month; further notes the rise in payday loan companies such as Wonga, QuickQuid and Money Shop since the economic downturn; is concerned by Unite's findings that one in eight workers regularly turned to payday loan companies to make ends meet; deplores the exorbitant rates of interest charged by payday loan companies, which are typically 1,200 per cent APR and can reach 4,200 per cent APR; believes that such rates are likely to trap borrowers in a spiral of debt; is concerned that Citizens Advice Bureaux have seen a fourfold increase in the number of people with payday loans seeking help; recognises that the harm that such loans do to individuals has a further knock-on effect on the UK's high streets; further deplores the fact that some payday loan firms have even been known to use threats; supports credit unions as a civilised alternative to payday loan companies; further notes that the majority of voters believe a cap should be imposed on the total costs that can be charged by payday loan companies; and calls on the Government to impose such a cap.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

In addition to the sponsors, the following Members have signed to support the motion.

Blomfield, Paul
Labour
Signed on 4 July 2012
Sheffield Central
Campbell, Mr Ronnie
Labour
Signed on 4 July 2012
Blyth Valley
Caton, Martin
Labour
Signed on 4 July 2012
Gower
Clark, Katy
Labour
Signed on 5 July 2012
North Ayrshire and Arran
Clarke, Mr Tom
Labour
Signed on 5 July 2012
Coatbridge, Chryston and Bellshill
Corbyn, Jeremy
Labour
Signed on 4 July 2012
Islington North
Crausby, Mr David
Labour
Signed on 17 July 2012
Bolton North East
Cryer, John
Labour
Signed on 4 July 2012
Leyton and Wanstead
Cunningham, Mr Jim
Labour
Signed on 3 July 2012
Coventry South
Dobbin, Jim
Labour
Signed on 3 July 2012
Heywood and Middleton
Doran, Mr Frank
Labour
Signed on 10 July 2012
Aberdeen North
Edwards, Jonathan
Plaid Cymru
Signed on 3 July 2012
Carmarthen East and Dinefwr
Esterson, Bill
Labour
Signed on 3 July 2012
Sefton Central
Galloway, Mr George
Respect
Signed on 11 July 2012
Bradford West
Gapes, Mike
Labour
Signed on 5 July 2012
Ilford South
Glindon, Mrs Mary
Labour
Signed on 5 July 2012
North Tyneside
Godsiff, Mr Roger
Labour
Signed on 3 July 2012
Birmingham, Hall Green
Goodman, Helen
Labour
Signed on 5 July 2012
Bishop Auckland
Hancock, Mr Mike
Liberal Democrat
Signed on 9 July 2012
Portsmouth South
Hemming, John
Liberal Democrat
Signed on 16 July 2012
Birmingham, Yardley
Hopkins, Kelvin
Labour
Signed on 5 July 2012
Luton North
Howarth, Mr George
Labour
Signed on 14 February 2013
Knowsley
Jackson, Glenda
Labour
Signed on 5 July 2012
Hampstead and Kilburn
Lavery, Ian
Labour
Signed on 3 July 2012
Wansbeck
Leech, Mr John
Liberal Democrat
Signed on 3 July 2012
Manchester, Withington
Long, Naomi
Alliance
Signed on 21 November 2012
Belfast East
Lucas, Caroline
Green Party
Signed on 12 July 2012
Brighton, Pavilion
McDonnell, Dr Alasdair
Social Democratic & Labour Party
Signed on 11 September 2012
Belfast South
McDonnell, John
Labour
Signed on 4 July 2012
Hayes and Harlington
Morris, Grahame M.
Labour
Signed on 10 July 2012
Easington
Murphy, Paul
Labour
Signed on 11 July 2012
Torfaen
O'Donnell, Fiona
Labour
Signed on 10 September 2012
East Lothian
Osborne, Sandra
Labour
Signed on 3 July 2012
Ayr, Carrick and Cumnock
Riordan, Mrs Linda
Labour
Signed on 16 July 2012
Halifax
Ritchie, Ms Margaret
Social Democratic & Labour Party
Signed on 10 July 2012
South Down
Robertson, John
Labour
Signed on 6 July 2012
Glasgow North West
Rotheram, Steve
Labour
Signed on 3 July 2012
Liverpool, Walton
Roy, Lindsay
Labour
Signed on 5 July 2012
Glenrothes
Ruddock, Dame Joan
Labour
Signed on 5 July 2012
Lewisham, Deptford
Skinner, Mr Dennis
Labour
Signed on 3 July 2012
Bolsover
Tami, Mark
Labour
Signed on 4 July 2012
Alyn and Deeside
Tredinnick, David
Conservative
Signed on 10 July 2012
Bosworth
Weir, Mr Mike
Scottish National Party
Signed on 3 July 2012
Angus
Williams, Hywel
Plaid Cymru
Signed on 5 July 2012
Arfon

These members had previously signed the motion, but have now withdrawn their support. The date shown is when the Member withdrew their signature from the motion.

After a motion has been tabled, other Members can table amendments to it. Amendments to this motion are shown below.

PAYDAY LOAN COMPANIES (Amendment 1)
at end add `and further calls on television companies not to advertise such services'.
Scottish National Party, Na h-Eileanan an Iar
7
signatures
EDM 299A1: tabled on 3 July 2012
PAYDAY LOAN COMPANIES (Amendment 2)
leave out from `notes' to `notes' in line 2.
Conservative, Morecambe and Lunesdale
1
signature
EDM 299A2: tabled on 12 July 2012
PAYDAY LOAN COMPANIES (Amendment 3)
leave out from `downturn;' to `deplores' in line 5.
Conservative, Morecambe and Lunesdale
1
signature
EDM 299A3: tabled on 12 July 2012