Hollywood star launches war on high-cost credit
HE’S best known for his portrayal of former prime minister Tony Blair and roles in Oscar nominated films including Frost/Nixon and Midnight in Paris.
However, Michael Sheen stepped off the red carpet yesterday to launch a new drive in Glasgow which aims to tackle pay day lenders and high-cost credit providers.
The actor and activist visited Scotcash, in Dennistoun, ahead of a speech at a finance conference at Glasgow City Chambers where he launched The End High Cost Credit Alliance.
The organisation aims to create a “social movement” which will invest in not-for-profit companies to “compete and win against” high-cost credit providers.
Sheen said he used his own money to finance it after hearing a “pattern emerging” of the difficulties facing those using highcost credit providers.
Almost half of Scotcash customers are lone parents, many of whom are living in poverty and unable to access fair priced credit or other basic financial services such as bank accounts.
He then delivered a speech at the Responsible Finance conference at Glasgow council headquarters.
He said: “This is a movement founded by me but made for you. This isn’t a side project, or just a campaign, I’m not an ambassador. I don’t need to tow a party line, I don’t work for anyone that is involved in this market. We have 50 organisations and individuals working together in this movement. We need to understand your needs, we need a system that is for everyone.
“We don’t need companies that are going to make money out of other peoples misfortune – that could be a result of as little as a broken washing machine.”
“The End High Cost Credit Alliance recognises how unfair the playing field is for organisations like Scotcash and we’ll be doing what we can to help them deliver fair finance to more people.
The actor is also an Unicef ambassador and patron of Social Enterprise UK.