Hire Purchase

Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 11th October 1976.

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Photo of Mr Robert Adley Mr Robert Adley , Christchurch and Lymington 12:00 am, 11th October 1976

asked the Secretary of State for Prices and Consumer Protection what effect the Consumer Transactions (Restrictions on Statements) Order will have upon the availability of hire-purchase facilities on domestic goods.

Photo of Mr John Fraser Mr John Fraser , Lambeth Norwood

I do not consider that the Order will have any effect on the availability of hire-purchase facilities.

Photo of Mr Robert Adley Mr Robert Adley , Christchurch and Lymington

As the Order will undoubtedly increase the cost of credit to shoppers, will the hon. Gentleman say whether that is the Government's intention or whether it is merely another example of the accidents which unfortunately seem to continue to befall this Government?

Photo of Mr John Fraser Mr John Fraser , Lambeth Norwood

I do not accept the hon. Gentleman's premise that the Order will increase the cost of finance. It will increase protection for the consumer, and I think that the whole House will welcome that.