Tuesday, July 30, 2013

Cable's hypocrisy over Wonga

The Archbishop of Canterbury said revelations that the Church of England has indirectly invested in Wonga were “very embarrassing”, coming just two days after he said he wanted to drive the payday lender out of business.

However, the Church was prepared to do something about Wonga. The government has so far done nothing. Why on earth should that be the case?

Well there is a curious co-incidence. According to The Telegraph, "...business executives were charged £1,250 for face-to-face meetings with ministers at which they were invited to help “develop” business-friendly policies. Wonga confirmed it had sent a representative to meetings with ministers from the Department for Business and the Treasury.

Wonga have done very well thank you from cuts in benefits which force people to take out payday loans.

Millionaire Vince Cable has said the government will support the efforts of the church to provide cheap credit for the poor. I suggest you withhold your admiration until he has actually done anything. Talk really is cheap.

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