Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 12:00 am on 16 October 1991.
My hon. Friend is quite right. All the evidence shows that the problem is not with timeshare: it is with its marketing. That is why we believe it essential that we insist that those considering taking up timeshare offers be given a written prospectus, that they have a cooling off period and that deposit moneys be protected.
There is no point in acting unilaterally in this case, as most timeshare properties are situated abroad. This is a good example of European action being needed. We are pressing the European Commission to act; it has promised to consider our request as favourably as it can.