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Banking Reform

Part of Business of the House – in the House of Commons at 1:18 pm on 17th June 2010.

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Photo of Jonathan Edwards Jonathan Edwards Plaid Cymru, Carmarthen East and Dinefwr 1:18 pm, 17th June 2010

Economic growth in the past decade was driven largely by consumption. As a consequence, £1.4 trillion-worth of personal debt is circulating in the UK economy, which means that the human cost of the current recession will be particularly severe. Will the new Consumer Protection and Markets Authority make sure that lenders have to undertake affordability audits so that individuals and families incur only debts that they can service?

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