To think these people are utter scum, and i am sick to the back teeth with them all

[CustardoPaidforIDSsYFronts]

Private Equity manager Adrian Beecroft has donated over half a million pounds to the Tories since 2005.

Beecroft is the head of the private equity group that administers Wonga. The typical interest rate on a Wonga loan is an incredible 5,853% APR!

the Tory party are resisting regulation of Payday lending sector. Does this resistance have anything to do with the fact that one of their biggest donors runs one of the biggest legal loan shark operations in the country?

Anyone else read the House of Commons cross party Business Innovation and Skills Committee Report on Payday Loans published on 20 December 2013?

It's here:

www.publications.parliament.uk/pa/cm201314/cmselect/cmbis/789/789.pdf

Are posters seriously implying that there is corruption? The evidence is not there: there is usually quite a cross party consensus on this sort of issue which is more complicated than many of you imply. It is not true that payday loans are evil (even though they are usually unwise). They can fulfil a useful social function and protect many from unregulated loan sharks.

No party proposes banning payday loans. All parties propose increasing their regulation.

OP what makes you say that the Tories are resisting the regulation recommended by the select committee? (Have I missed something?)

I'm sure this particular segment carries a higher risk but their default rate would have to exceed 80% to justify this kind of APR. I'd like to see their data.

It's such a sad and depressing business.

It's a heavily regulated industry - political donations should be viewed with skepticism.

Guardian link tax rules written by the people dodging them

They are rats. Lower than that-fleas on rats.
Edam, I was just thinking about the social fund this morning for some reason. They removed it with basically no media attention, or fuss, and yet it has been one of the worst things to ever happen to the poor in the UK.
(That and the fucking up of Legal Aid)
I have used it twice in my life, once for a deposit to move house with a baby from a damp, unsafe house into a better house. I really needed it, and it was taken out of my Income Support in small amounts until it was paid back.
The fact that there is no way now for people without credit cards/family help to borrow small amounts interest free for one off essential costs has directly led to the rise in payday loans, which in itself has directly led to the rise of food banks.
I don't think they should out and out ban high cost bad credit loans, but they NEED regulating, as in the interest needs to be capped.
But this lot of Bullingdon Club tosspots won't do that, because it's against the free market. Although so is bailing out banks, but, you know, that's helping rich people so it's OK.

Shame on them.

Tory party are cunts.

I hope that people see this come 2015 and make an informed decision when it comes to the polls.

Please people- open your eyes.

No you've got it wrong these are proper people. It's poor, low paid people like me who are scum. Haven't you been listening to the Government? They tell us often enough.

independent article showing the almost cartoonesq way in which the Tories are scrambling re: the cap on payday loans

sorry grumpyoldbat, i thought we were salt of the earth - fucking lefty

My God ..Its full of Socialists....................

thousands not paid benefits at christmas due to blunder heres hoping the old people remember this in time for the next election fingers crossed

I have a dilemma. I want to use my vote. I feel that I should use my vote because women died in order to get me the vote.

Who do I vote for though? I grew up supporting Labour. Wouldn't vote for them now. Weak and ineffectual. Milliband is a spineless, weak leader. They're not as 'left' as they'd like us to believe.

I wouldn't vote for callmeDave or any of his cronies if you paid me. They make me sick. The dismantling of the Social Fund and the link to the rise in food banks is just a drop in the ocean.

Nick Clegg? I stupidly voted Lib Dem last time around. And what a turncoat. I will never forgive him for climbing into bed with the Tories and the massive u-turn on Student Loans.

Who does that leave? I have very little confidence in any of them to do the right thing. I know myself that I know very little about politics - I genuinely find it all very hard to get my head around - but they all come across as lying, self-serving shits.

And don't anyone even mention UKIP, for the love of God - bunch of racist bastards

why is anti tory = socialist?

when does highlighting the greed of the very rich, tax dodging utter cunts = socialist

when does pointing out that these fuckers are screwing people over = socialist?

When did Socialist become such a bad thing

I don't think it's socialist to think the Tories are money grubbing rich fuckers with no feeling for the common man.

It's just decency, surely?

Thanks custardo I have read your links but don't see that they say that the Tories are resisting the cross party recommendations on Payday Loan regulation. If anything, they go the other way: Osborne was ahead of the game by suggesting a cap on fees. This is more regulation than the Select Committee (cross party) suggest. Ideally he should just have gone along with the Select Committee recommendations otherwise what is the point of select committees?

Yanbu. Just cannot stand the greed and cynicism of these fucking mega rich individuals. Greed is so deeply unattractive and that is all it is. Massive self interest, nothing else.

If thinking that way makes me a socialist then great! Proud to be a lefty and getting leftier as I get older.

James Stewart would be proud...Harvey the 6ft Rabbit LIVES the 17million spent

well, 6 months ago when the banking reform bill was being drawn up the cap was pushed- not included. The cap will be formally established through amendments to the Banking Reform Bill all of a sudden - how much ? well we don't know

the only reason this is now going through is not due to the amazing foresight of osbourn but due the scrutiny and pressure he is now bowing to

stella creasy is a good name to google on this

heartbrokenmum73

i agree wholeheartedly - they are sall serlf serving shits - very well put

I agree too - that i face the same dilema

who to vote for - a right wing tosser self serving shit or a left wing tosser who is really a right wing one - jumping on a right wing 'persecute the poor, they are lazy' self serving shit?

so most people dont vote becuase whats the fucking use?

and voting labour in my area is tantermount to burining my vote in the street whilst being stark naked and singing 'hit me baby one more time tories'

it is a pickle indeed

"What would you rather do, be in debt to wonga or in debt to the local break-leg loan shark?"

That's not the choice though is it.

its rather like saying " do you want me to punch you in the tits or the fanny"

when you can stroke my belly and feed me chocolate

I see no difference between the parties.

They may talk 'their' talk. But they all walk the same.

Politicians need jobs when their political careers come to an end. They end up either 'advising' or non exec directorships.

No big news about party donations. Of course there's no link between donations and party politics ;-). It's just one itchy circle of love. After all, there are other tax efficient ways to dispose of assets (charities).

It's a very rare (near extinct) ethical private equity/venture capital player in today's markets. Most are 'pump and dump'. That is, buy the company, restructure (lay off workers/sell assets), take on debt then sell on. I can't imagine those ex hedge fund managers taking on schools, converting them to profit making academys and re-investing, purely for the love of the children.

Well if it weren't for wonga we wouldn't have had Christmas dinner

I think that borrowing 200 quid for a week and paying back 214 is okay actually

An awful lot less than the scummy bank charge us for going overdrawn and we get a bump up on our credit score.