Orders of the Day — Consumer Credit Bill

Part of the debate – in the House of Commons at 1:00 pm on 9th June 2005.

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Photo of Michael Jabez Foster Michael Jabez Foster Labour, Hastings and Rye 1:00 pm, 9th June 2005

Is it not the case that very high interest rates usually reflect the fact that the loan should not have been made? That is the issue. If lenders were barred from charging a high interest rate, they would be out of the market. I acknowledge, of course, the problem of illegal lending.