The Commonwealth government’s proposed laws limiting small loans and the leasing of consumer goods by setting caps on repayments which are not even means-tested, will effectively cripple an entire industry and deprive low-income earners of everyday essentials.

Given that one of the coalition’s key principles is to protect small business, this is a poor and ill-considered move on their part that will affect the jobs of at least 1,500 ordinary Australians and destroy over 380 small businesses, limiting consumer choice.