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.
More top news
Billionaire businessman Stefano Pessina has said the Labour leader's economic plans are "not helpful for business or the country."
British scientists believe their research may help to explain the missing material that makes up more than 80% of the universe's mass.
The 10-year deal to produce equipment will save the Armed Forces money and give inmates valuable employment skills, the Government said.