Why are Wonga speaking at a Labour policy meeting on household debt?

Green Politics

It appears that a representative from Wonga is speaking at a Labour Policy Review meeting on household debt. Whatever next? Advice from McDonald's on healthy eating?

Hat-tip to Richard Murphy for noticing this.

It appears that a representative from Wonga is speaking at a Labour Policy Review meeting on household debt.

Here is the email:

“Monday 13 May

How should we deal with household indebtedness? 4.30-6pm Committee room 6

Speakers. Chris Pond (Chairman, Equity Release Council), Mark Lyonette (Chief Executive Association of British Credit Unions), representative from Wonga Chair. Chris Leslie MP (Shadow Financial Secretary to the Treasury)

If you would like to attend please email onenationregister@gmail.com with subject header DEBT

Labour Policy Review organised with Labour Finance and Industry Group and Labour in the City”

Yes, that is the same Wonga that has a headline annual interest rate of more than 4,200 per cent.

Whatever next? Advice from McDonald’s on healthy eating?

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26 Responses to “Why are Wonga speaking at a Labour policy meeting on household debt?”

  1. Rosie2

    Maybe, just maybe its because come 2015 the poorest in our society could be trapped in ever growing debt by this little earner.
    http://johnnyvoid.wordpress.com/2012/12/04/is-lord-fraud-laying-a-debt-trap-for-benefit-claimants/

    ““DWP intends to enable claimants to access financial products that offer budgeting support by subsidising the cost of these products for an interim period of one year per claimant as they transition onto Universal Credit. At the end of the initial subsidised period DWP will withdraw the subsidy. The claimant will then choose whether they wish to continue using the account, with either themselves or a third party meeting the ongoing monthly cost:”
    One way to trap claimants into using the service is to trap them in debt. For the first time, credit histories of potential borrowers will be irrelevant. Companies involved in this scheme will have access to claimant’s money at the source, meaning there is no choice but to pay back any loans that may be offered”

    And as a whopping £145 million worth of contracts will be awarded – if this goes through – they might like to get to know who they may be dealing with, come 2015…..

    http://ted.europa.eu/udl?uri=TED:NOTICE:296147-2012:TEXT:EN:HTML&src=0

  2. Harry Barnes

    Is this meeting fully booked or has it been dropped? To find out details about it, I registered with Labour’s One Nation Regisiter (or whatever they call it). I have received a list of future meetings up to 14 May, but this one (for the day before that) is not included. Hopefully, Labour has had second thoughts about Wonga and friends. And why are all the meetings connected with the Labour Policy Review being held in London? How do the rest of us participate face to face over Labour’s Policy Review. It seems that things can only continue to get worse.

  3. mr_fatty

    It’s a bit like putting Jimmy Savile in charge of a crêche.

  4. mr_fatty

    It’s a bit like putting Jimmy Savile in charge of a crêche.

  5. mr_fatty

    It’s a bit like putting Jimmy Savile in charge of a crêche.

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