MPs raise concerns over Asda’s link to app offering high-interest loans to staff

Retailer's owner has stake in Wagestream, which offers workers loans of up to 25,000

An influential group of MPs has sought assurances that Asda is not squeezing staff" to drive profit after it emerged they are being offered high-interest loans by Wagestream, a company in which the retailer's owner has a stake.

The business and trade select committee has written to Asda over its links to the financial wellbeing app" that recently began offering the supermarket's staff loans of up to 25,000. The default arrangements for Wagestream's workplace loans" involve debt repayments being directly deducted from workers' pay packets.