Cathy Jamieson MP, Labour’s Shadow Financial Secretary to the Treasury, responding to Wonga writing off the debts of some customers in arrears of 30 days or more, said:

“Payday lenders like Wonga should not lend money to those who will struggle to pay it back - so Labour welcomes new signs of action to drive up standards in the industry.

"It is right that Wonga, in agreement with the FCA, has taken action to help customers affected and strengthened their lending and affordability criteria.

"We believe that more should be done. A Labour Government will extend the levy on the profits of payday lenders and use the additional money to double the level of Government funding for credit unions.”