Owl asks: where are we on this? Has there been a u-turn on the u-turn on the u-turn yet, or does it come later today?
“Public sector workers are the most likely employees to take out payday loans, according to survey by a loans comparison website.
A survey of 8,000 people by Readies.co.uk revealed the majority of employed people taking out payday loans were working in the public sector.
Of those in employment seeking a payday loan, more than a quarter (27%) work in the public sector in roles such as nurses, teaching assistants and for councils, according to Readies.
The findings came a day after a proposed amendment to the Queen’s Speech to increase public sector pay and end the 1% pay cap failed to pass the Commons. There has been some suggestion that the government is poised to relax public sector pay limits.
Commenting on the poll’s findings, Stephanie Cole, operations manager at Readies, said: “Payday loans have a negative stigma attached to them, but the reality is that they are now part and parcel of some people’s’ lives as the pay squeeze intensifies as wage growth falls further behind inflation.
“The pay squeeze, particularly on public sector workers, will only serve to increase the number of people turning to payday loans who are already struggling with rising fuel, food and transport costs.”
Public sector unions have protested ongoing public sector pay restraint.
Speaking after the Queen’s Speech vote on public sector pay, Kevin Courtney, general secretary of the National Union of Teachers, said: “Pay for all public sector workers needs to be increased. The autumn budget must ensure that this 1% cap is lifted for all public servants.”