Orders of the Day — Consumer Credit Bill

Part of the debate – in the House of Commons at 12:28 pm on 9th June 2005.

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Photo of Michael Weir Michael Weir Shadow Spokesperson (Work and Pensions), Shadow Spokesperson (Trade and Industry) 12:28 pm, 9th June 2005

I understand what the Minister is saying about interest rate caps, but does he not accept that another problem exists—the calculation of annual percentage rates—that has been brought to our attention for the purposes of this debate by Which? Different methods of calculation can lead to the paying of very different rates of interest, even though they may seem similar. Does the Minister propose to deal with this problem?