Illegal Money Lending

Oral Answers to Questions — Treasury – in the House of Commons at 11:30 am on 19 January 2016.

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Photo of Nick Smith Nick Smith Shadow Minister (Environment, Food and Rural Affairs) 11:30, 19 January 2016

What his plans are for future funding of illegal money lending teams.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The Government are exploring options to ensure that the England and Wales illegal money lending teams have the funding they need to ensure that consumers continue to be protected from illegal loan sharks, and are confident of transitional arrangements being agreed.

Photo of Nick Smith Nick Smith Shadow Minister (Environment, Food and Rural Affairs)

Too many of my constituents are victims of loan sharks. The illegal money lending team has helped nearly 24,000 victims across the country, yet the Government have treated the service with disdain. Will the cuts to this vital team and to local employment standards not make the poorest more vulnerable?

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

Far from agreeing with the hon. Gentleman, I must say that the Government are finding ways to put the team on a sustainable basis to continue the valuable work it does to protect people from illegal money lending.