The united kingdom has witnessed a number of fundamental, inter-related, long-lasting alterations in the labour market, welfare reform and financialisation throughout the last 40 or so years as an element of a wider project that is neo-liberalHarvey, 2005; Peck, 2010; Crouch, 2011). These modifications have actually combined to make a climate that is highly favourable the rise in payday financing as well as other types of HCSTC or ‘fringe finance’ (also referred to as ‘alternative’ finance or ‘subprime’ borrowing) (Aitken, 2010).

The first seeds among these fundamental alterations in the labour market may be traced towards the 1980s, whenever employment legislation formalised the weakening for the trade unions therefore the development of greater ‘flexibility’ when you look at the labour market (Resolution Foundation, 2013a). Continue reading The project that is neo-liberal labour market insecurity; welfare cuts; and financialisation →