This week Rachel visited a printing business in Leeds West. Target Print boss Peter Biggins gave Rachel a tour of his business, which prides itself on employing and training local people, and building strong relationships in the local community.

Rachel said: 'I was impressed by the ethos of the business, and it's roots in our community. Target Print train an apprentice every year, and choose young people from our area. This is a fantastic thing for a local business to do - especially in light of the recent demand for university places and competition for employment. Small businesses are the backbone of the local economy and are vital to the economic recovery.'

'I am spending time in the parliamentary recess in Leeds West, and the chance to meet local employers, workers and charity groups is very enjoyable. It is great to build on local perspectives of the current economic climate when I hold meetings and speak in Parliament.'

Rachel has branded the coalition government's NHS reorganisation 'dangerous'. She said

A top-down reorganisation is the last thing the NHS needs right now. It needs to focus all of its efforts on meeting the financial challenge it faces. This reorganisation will distract attention, reduce motivation and cost billions. I am determined to fight the Health Bill when it comes before Parliament to stop this dangerous legislation.

You can read more about Rachel's thoughts at http://www.guardian.co.uk/leeds/2010/aug/04/leeds-mp-criticises-dangerous-nhs-reorganisation

The Financial Times has reported on a letter written by Rachel and Barry Gardiner MP, to the Parliamentary Commissioner for Standards, John Lyon.  

The letter asks Mr. Lyon to investigate Nick Clegg's handling of the Sheffield Forgemasters loan, and the way he described its withdrawal to MPs.

The Deputy Prime Minister told MPs in the House of Commons that the £80m loan was cancelled because the Directors of the company were unwilling to sell shares to raise money. However, it has since been made clear that the Directors were willing to do so.

Rachel has signed up to the Compass campaign calling for an end to legal loan sharks. The poorest people in our society pay outrageous rates of interest to lenders who operate within the law.

The campaign calls for proper regulation of these companies, who can lawfully charge interest rates of up to 2500%. Around 3 million people use doorstep lenders - who often charge around £83 per £100 borrowed. The campaign is calling for better regulation of the loan industry:

Government initiatives to date have not worked: The Growth Fund, set up to increase availability of affordable credit to the poorest households, is nearly £100m. In contrast, the OFT estimates that the high cost credit sector is worth £35bn annually. The only way to stamp out legal loan sharking is by establishing a lending rate cap to cover all forms of consumer credit in order to reduce prices in areas of the market that are not price competitive. Importantly, a cap needs to be accompanied by increasing access to more affordable, responsible sources of credit. The government should therefore further develop the idea of a ‘Peoples’ Bank’ using the Post Office network; ensure greater support for local credit unions, CDFIs, co-operatives and mutuals. Furthermore, all banks should be obliged to provide a universal banking service. 

Rachel supports capping the maximum rate of interest that can be charged by lenders, in order to protect people who often have nowhere else to turn for money:

'These lenders prey on communities like Leeds West, where earnings are below average and where there are few options for getting money for basic needs. People in the poorest areas already pay about £1,000 more for basic services, goods and appliances than people who have access to more money - this is a scandal. The government must take steps to make sure that everyone has access to a bank account and interest rates are capped to protect vulnerable people from spiralling into unnecessary debt.'

It has been estimated that £18m of debt repayments are being made in west Leeds each year - often at a high interest rate. If you are struggling to get short term finance to cover costs, the best places to visit are the Leeds or Bramley Credit Unions.

Chris Smyth, Chief Executive of Leeds City Credit Union, told Rachel: "Excessive interest rates charged by some legal lenders blight communities and destroy lives. As a credit union we are constantly coming across people who have been at the mercy of lenders who charge excessive rates of interest. In many cases, as a credit union, we are able to help people escape excessive debt by providing affordable credit. Recent research by Salford University, carried out for Leeds City Council, has shown that for every pound Leeds City Credit Union spends in providing affordable credit provides a benefit to local communities of £8, compared to the money taken out of communities by door step lenders. This multiple would be even higher if compared to some of the very highest rates of 'legal' lending that we comes across"

You can contact Leeds City Credit Union by phone on 0113 214 5252, or visit Bramley Credit Union at the Bramley Community Centre on Waterloo Lane.

Take action to support the campaign now! Visit the campaign website http://www.endlegalloansharks.org.uk/ for more information about what you can do.