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Government backtracks on crisis loan interest charge

The government is this evening backtracking on an earlier white paper which suggested that those pursuing crisis loans should be charged interest in the region of 27%. The move comes amid increasing turmoil within the Labour Party and fears that they are losing touch with traditional voters and the general voting public. While much of the damage has already been done with the suggestion that interest charges of approaching 30% were "acceptable" for those in financial trouble the authorities are this evening attempting to knock the story off top spot.

It seems that while Gordon Brown has been making progress with regards to increased popularity amongst UK voters, his latest move, whether it actually happens or not, has the potential to do serious damage to his prospects for the next general election. While many voters have short memories, there have been a number of instances where Labour has been seen to abandon its traditional core supporters in the pursuit of the middle ground.

Many are surprised that this idea of charging interest on crisis loans was ever even contemplated although there appears to be documentation to back up the rumours.

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