Stella Creasy was named Campaigner of the Year for her efforts to restrict high cost loan companies.

The Political Studies Association (PSA) named the Walthamstow MP as the winner of the award last night.

On Monday Chancellor George Osborne praised Ms Creasy’s work as the government announced a new law capping the cost of payday loans.

Miss Creasy has highlighted problems she claims are caused by high cost payday loan companies on people struggling to make ends meet.

CEO of the Political Studies Association, Helena Djurkovic, said: “Stella Creasy’s commitment to fighting for those people struggling to keep their heads above water despite signs of economy recovery reminds us that MPs can still be a powerful forced for good.”

The awards jury said in a statement: “Occasionally an MP emerges who is so strongly identified with a particular cause and is so articulate in making their case that the wider public looks beyond party politics and views what they are saying as simply the ‘right thing’.

“Stella is one such as this and a worthy winner of this award.”

“Her impact is all the more impressive given she is a relative newcomer to the House of Commons.”

The PSA is an organisation established to promote the study of politics.