The Bank of England and Financial Services Bill is to be amended to enable the Financial Conduct Authority to impose the levy.
The revenue raised will be used to fund illegal money lending enforcement teams across the UK from 201718.
"I am absolutely determined to protect customers from abuse and sharp practice in the consumer credit market," Osborne said.
"It's why we're taking further action today to tackle illegal loan sharks by ensuring that enforcement teams have the funding, from the industry, they need to protect consumers from those that would do them harm."
What are your thoughts on the levy? Let us know in the comments section below.
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