Austerity policies such as Universal Credit, the benefits freeze and other tax/benefit changes are a key driver of the demand for high cost credit by causing poverty and insecurity both in and out of work. The first action we need is to end austerity. The collapse of Wonga in August 2018 may be celebrated by many and mourned by few but, as Michael Sheen has reminded us, there are many other types of high cost credit still available in the marketplace so further action is needed if we want a post-Wonga world to look significantly different from what went before.
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