The Office of Fair Trading has estimated that the payday loan market was worth £2.0 to £2.2 billion in 2011/12, which corresponds to between 7.4 and 8.2 million new loans.
This figure is up from an estimated £900 million in 2008/09.
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The Tory peer and former Marks & Spencer chief has been named as chairman of the 'In Campaign'.
Delicately worded memo by then press chief from 1985 is among cache of newly released documents from former PM's private files.
Cloud and showery rain may linger across the far northwest throughout Saturday.