It is not before time on the part of our `Coalition Government' to take action to help protect our poorest local residents, from the unscrupulous Pay-Day `loan sharks' and their high interest short term loans, that often can cause so much family misery, if the maximum amount they are free to charge,on each separate loan to any unsuspecting vulnerable individual, remains unregulated, in law.

The `loan sharks' become `charlatans', when they mask the reality that a small £300 short term Christmas loan, can at present, lead to multiple loans and high interests, without a ceiling : rising in some cases to 2000% of the original amount. The government must be held accountable to the pledged setting of a new legally enforceable max set whole loan interest at 10% or a lower figure, to be determined by the Financial Conduct Authority.

Better to put into perspective that Stella Creasy MP -whom must be congratulated for her `Pay-Day' campaign-does not reveal that LBWF has not banned `Pay-Day' loan companies from advertising on their sites, until it was corrected when pointed out by the Liberal Democrats, that this is clearly an inconsistent approach to regulate and challenge these loan predators.

It is also a matter of 13 years duration that Labour declined from helping our poorest families, during their government, in passing any `capping' laws on restricting either Banks or Pay Day companies from their unbridled practices of charging the highest interests on single or multiple short term loans.

The passages of new clauses to be included in the new Banking Reform Bill, is expected to address the spectre of `loan-sharks' who dangle a loan carrot in front of our most vulnerable residents and then commit their worst excesses in the High Street.Lest there now be new imposed strict rules and a `cap' on how much interest they can charge and banning of multiple loans to one person or family members.

Patrick C Smith, Liberal Democrat, Higham Hill Focus Team