Citizens Advice chief executive Gillian Guy has welcomed the proposed cap on payday loans but said that it was important to address the causes of the increase in their use:
The Government's plan to cap the cost of loans only goes to show how out of control the industry is ...
Government must also tackle the underlying need for payday loans and ask what is driving people to short-term credit in the first place.
New figures released by Citizens Advice found that three out of four borrowers find it difficult to repay payday loans, while 62 percent of loans still come without proper checks to assess whether borrowers can afford to repay.
More top news
Showers across Britain will make way for sunshine tomorrow before a milder end to the weekend, though heavy rain will return in the north.
George Clooney appeared in a special Downton Abbey as a host of stars came together to raise money for the ITV charity campaign Text Santa.
Events company Secret Cinema is planning to screen a film in protest at what they have called the 'censorship' of The Interview.