Labour shadow business minister Stella Creasy has accused the Government of "following Labour’s lead" on capping the charges for payday loans.
But she said in a statement that the proposal doesn't go far enough "to address the damage this toxic industry has done":
We want a levy on these companies to expand the funds available to credit unions so they can serve more people, powers for councils to limit the growth of these companies on our high streets and a ban on advertising to children of these products.
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Your morning briefing to all the key election news after a dramatic night.
The 38-year-old Lib Dem previously quit Labour over concerns the party has a problem with Jewish people.
Voting traditions were turned upside down across the country as the Tories won in Labour's heartland and the 'red wall' came crumbling down.