Backbench Business — High-cost Credit

Part of the debate – in the House of Commons at 12:52 pm on 5th September 2013.

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Photo of Meg Hillier Meg Hillier Labour, Hackney South and Shoreditch 12:52 pm, 5th September 2013

Further to that intervention, the hon. Lady may remember that the PAC heard evidence from Fair Finance, which explained that if the interest rate was capped, as a social enterprise it would have to lend a higher amount to individuals, so risking greater indebtedness. So we have to get the balance right to make sure that people without a credit record get the loan that they need but are not over-indebted.