New Clause 4 - Liability of debtor on termination of hire-purchase etc. agreement
Consumer Credit Bill
4:45 pm
Mr Laurence Robertson (Shadow Minister, Economic Affairs; Tewkesbury, Conservative)
The Minister has proved that he is an extremely good goalkeeper. He is also, to use the technical term in football, a very good sweeper: nothing has got past him.
He said that section 100 is about retaining consumer protection, which I do not wish to undermine. However, perhaps consumers are paying more for credit than they should be because of it. It is a matter of weighing up and interpreting the evidence, and of striking the right balance. The Department has already looked at section 100, but it may need to reanalyse the situation, as it could become a problem, because more and more cars are being sold—although the section does not apply only to cars. This rather strange area of law should be examined. The market was very different when the 1974 Act was introduced, and because of that—if for no other reason—section 100 should be looked at again in more detail. However, I beg to ask leave to withdraw the motion.
Motion and clause, by leave, withdrawn.