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 John McFall John McFall Chair, Treasury Committee 12:28 pm, 9th June 2005

I congratulate the Government and particularly the Minister on reintroducing this Bill so quickly. But as he knows, it was preceded by intense negotiations with the financial services industry, and despite the good measures in it, there are still problems with the definition of a single APR, with data sharing and with the issuing of unsolicited cheques. Will he work with the industry to ensure that such matters are dealt with? Transparency and competitiveness are at the heart of this Bill, and without transparency and an informed consumer, we cannot have a fully competitive market. Will the Minister ensure that the industry delivers on these issues, as it said it would?