Hollywood actor Michael Sheen has launched a new campaign to tackle high cost credit and provide “fairer” alternatives for those who use payday lenders and rent-to-own firms.
The Frost/Nixon actor is today giving a keynote speech at the Responsible Finance Conference in Glasgow and will announce details of his ‘End High Cost Credit Alliance’, which brings together over 50 organisations.
The Welsh actor, who is also a Unicef ambassador, hopes he will be able to make a difference tackling changes to regulation and policies and engaging in public debate, promoting workforce training and investing in fairer alternatives.
He is due to release more details about how the alliance will work in practice in his speech today, while tomorrow the Royal Society for Public Health – a member of the alliance – will publish a report revealing the impact of high cost credit on consumers.
MoneySavingExpert doesn’t like payday loans and most people who get them shouldn’t – for more info, and a rundown of the least worst options, see our Payday Loans guide. If you’re struggling with debt, the Debt Problems guide has full help.
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Sheen: ‘I want to tackle those who unfairly target the most vulnerable’
In a statement released ahead of his speech today, Sheen said: “We designed the Alliance to take a collaborative approach to the issues around high cost credit and to tackling those who unfairly target the most vulnerable in our society.
“Collectively and strategically we will be getting behind organisations, providers and initiatives that seek to improve access to fairer credit and support across communities in the UK as well as addressing the wider welfare needs of those where credit is not the right option.
“Our message is simple – credit is good, but not in a system where it is unfairly targeted and maximised for profit over social impact.
“The Alliance is my way of bringing profile, resources and collaboration to one of the biggest issues facing communities in the UK.”