Points of Order

Part of Rail Update – in the House of Commons at 5:53 pm on 5th February 2018.

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Photo of Nick Smith Nick Smith Opposition Whip (Commons) 5:53 pm, 5th February 2018

On a point of order, Mr Speaker. During business questions last Thursday, I asked the Leader of the House about the “eye-watering” interest rates charged by rent-to-own firms. In response, she said that the Financial Conduct Authority

“has capped the interest rates that such companies are allowed to charge”—[Official Report, 1 February 2018;
Vol. 635, c. 1002.]

Unfortunately, no such cap has yet been placed on these interest rates. I thought that I would aid the Leader of the House by clarifying the point for the record.