MPs: Ban payday loan ads during children's TV

Children risk being "groomed" towards using payday loans if adverts for companies like Wonga continue to be screened during TV shows aimed at young children, a group of MPs has warned.

Children payday loans
The next generation risk financial uncertainty by having a relaxed attitude to payday loans, MPs warned. Credit: PA

The Business, Innovation and Skills (BIS) Committee recommended banning payday loan adverts during children's TV as it made the controversial financing look "fun" and "easy".

The committee heard evidence from consumer campaigners who warned that "cartoon puppets" used on payday lenders' adverts suggest that taking out a loan can be fun.

The average child aged four-15-years-old was bombarded by 70 payday loan adverts throughout last year, MPs said in their report.

The MPs' committee chairman Adrian Bailey said: "Children's programmes are simply not an acceptable place for payday loan adverts."

Read more: Miliband: Ban kids TV loan ads

Advertisement

Renewed call to ban payday loan adverts during kids TV

More MPs have called for a ban on payday loan adverts shown during children's TV shows. The Business, Innovation and Skills (BIS) Committee felt the commercials would coerce children into thinking the loans were a "fun" and "easy" way to get money.