Unite general secretary Len McCluskey branded Wonga's surging profits as "vulture capitalism", after the payday lender's figures showed they were making more than a £1 million a week in profit.
Payday lenders are making their profits on those struggling to make ends meet on a daily basis with outrageous rates of interest that mount up with an alarming speed, causing fear and insecurity. George Osborne's claims of an economic recovery are partly based on an out or control industry that preys on the poor and the low paid.
Osborne's ‘Wonganomics’ of relying on payday lenders to boost consumer spending will not get this economy back on track - it's unsustainable and morally wrong. Ted Heath once spoke of the unacceptable face of capitalism – what we are seeing in 2013 is vulture capitalism, picking wallets and purses clean.
More top news
Thousands of pounds worth of heroin has been found stashed inside the covers of children's books at Heathrow Airport.
Internet search engine says Cilla Black was the subject of more online searches than Kim Kardashian this year, beaten only by Taylor Swift.
A supermarket price war and fierce competition across the rest of the high street has seen shop prices slumped by a record level last month.