The Government wants banks and credit unions to create new current accounts to help benefit claimants better manage their money when its universal credit comes into force next year.
Workers are increasingly turning to payday loans firms because their wages run out before the end of the month, creating a "debt disease" which is spreading rapidly across the country, a new report has warned.
Shadow chancellor Ed Balls has urged the Government to use the £500 million underspend from the Olympics to cover the cost of scrapping a 3p increase in fuel duty due to take effect in August.