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divdiv class=story-body readability=50 span class=story-date#13; span class=date9 November 2013/span#13;span class=time-textLast updated at /spanspan class=time21:37 ET/span#13; #13;/span#13;#13; #13;#13;#13; #13; #13; !-- Embedding the video player --#13;!-- This is the embedded player component --#13;#13;#13; #13; #13;#13;#13;#13;!-- wwrights check --#13;!-- Empty country is used on test environment --#13;#13;#13;#13;div class=videoInStoryC readability=1#13; div id=emp-24887420-34621 class=emp#13; #13; #13; noscript#13; div class=warning readability=1#13; img class=holding src=http://news.bbcimg.co.uk/media/images/71021000/jpg/_71021847_71021846.jpg alt=Ed Miliband /pstrongPlease turn on JavaScript./strong Media requires JavaScript to play./p#13; /div#13; /noscript#13; #13; !-- embedding script --#13; #13; /div#13; !-- companion banner -- #13; #13; #13; #13; !-- END - companion banner --!-- caption --p class=captionEd Miliband: ''I don't want payday lenders...targeting children in this country''/p#13; !-- END - caption --#13; #13; #13;#13;/div#13;!-- end of the embedded player component --#13;#13;!-- Player embedded -- p class=introduction id=story_continues_1Adverts for payday loans should be banned during children's TV programmes, Labour leader Ed Miliband has said./p#13; pWriting in the Sun on Sunday newspaper, Mr Miliband criticised payday lenders who target children through advertising./p#13; pHe said a Labour government would urge the advertising watchdog to introduce a ban. If that did not work, Labour would use legislation, Mr Miliband said./p#13; pHis comments come in a week which saw payday lenders quizzed by MPs./p#13; pMr Miliband told the BBC payday lenders were spending hundreds of thousands of pounds advertising during children's TV programmes./p#13; span class=cross-head'Bad for families'/span#13; pAs a father of two young boys, I know how influenced they can be by what they see and I don't want payday lenders taking advantage of the cost of living crisis and targeting children in this country, he said./p#13; div class=story-feature narrow#13; a class=hidden href=#story_continues_2Continue reading the main story/a h2 class=quote“spanStart Quote/span/h2#13;blockquote readability=1p class=first-child The idea that payday lenders are putting pressure on our kids to pester their parents is just wrong”/p/blockquote#13;span class=endquoteEnd Quote/span#13; span class=quote-creditEd Miliband/span#13; span class=quote-credit-titleLabour leader/span#13;#13; /div p id=story_continues_2I think it's wrong, it's not what should be happening and that's why a Labour government would stop them advertising during children's TV, because it's bad for young people, it's bad for families and it's bad for communities./p#13; pMr Miliband said it was just wrong that payday lenders were putting pressure on our kids to pester their parents./p#13; pHe compared advertising by payday lenders to that of junk food and gambling, which are both banned during TV programmes aimed at children./p#13; pHe added: That's why we'll be asking the Advertising Standards Authority to act on irresponsible advertising that's targeting young children by payday lenders and if they don't sort it out, we will through legislation./p#13; pstrong'Pain and misery'/strong/p#13; pA spokeswoman for the Department for Business, Innovation and Skills said the government was already cracking down on irresponsible payday lenders to protect consumers./p#13; pShe said two misleading payday loan adverts had been banned in the last six months./p#13; pNew rules will also force payday loan adverts to include risk warnings and information about where the public can access free and confidential debt advice, she added./p#13; pMr Miliband's stance was supported by the creator of the MoneySavingExpert.com website, Martin Lewis./p#13; pMr Lewis said a survey of parents conducted by MoneySavingExpert.com suggested that 30% of children under 10 are repeating advertising slogans from payday loans companies./p#13; #13; pWe've been calling for a ban on payday loans on children's TV, he said./p#13; pThe risk is they effectively groom a new generation of children, normalising, legitimising and mainstreaming this dangerous type of niche borrowing./p#13; pHe added: Marketing is at the core of these loans, which cause many people pain and misery. /p#13; pThey're slick, fast, efficient technological plays, the crack cocaine of lending that have created a market that didn't really exist five years ago - and sadly our lack of regulation means they thrive here while other countries have far more effective controls./p#13; pIn a speech earlier this week, Mr Miliband criticised what he called Britain's Wonga economy, saying that the rise of payday lenders symbolised the squeeze on living standards facing millions of families./p#13; pThat came on the same day that representatives from the payday lending firms Wonga, QuickQuid and Mr Lender were questioned MPs on the Commons Business, Innovation and Skills Select Committee./p#13; pThe companies defended their business practices, saying they aim to lend to people who can pay them back./p#13; pWonga's chief operating officer Niall Wass told BBC's Newsnight its business practices have been misrepresented and the vast majority of its customers are happy./p#13; /div/divbrbrcentera href=http://www.wizardrss.comPowered By WizardRSS.com/a | a href=http://www.wizardrss.comFull Text RSS Feed/a | a href=http://www.amazon.com/RFID-Blocking-Cards-Identity-Protector/dp/B00CJHZLEWRFID/a | a href=http://www.wpzonbuilder.comAmazon Affiliate/a/center