George Osborne discovers socialism

Are the Tories being hypocritical in their pursuit of pay-day lenders?

When Ed Miliband called for a freeze on energy prices, the Tories denounced it as "unworkable" interference in the market, says The Daily Telegraph.

Yet now, after weeks of controversy over the high charges imposed by payday loan companies and opposition from the Treasury for caps on credit Chancellor George Osborne has ordered the new consumer regulator, the Financial Conduct Authority (FCA), to restrict the cost of loans.

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