Breathing Space Scheme: Consultation Response - Statement

Part of the debate – in the House of Lords at 3:59 pm on 19th June 2019.

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Photo of Lord Young of Norwood Green Lord Young of Norwood Green Labour 3:59 pm, 19th June 2019

My Lords, I do not know whether the Minister saw the recent “Panorama” programme that included a section on guarantor loans and the disgraceful activities of a company that was loading an individual up with another £10,000-worth of debt. Not only was she unable to pay; I think her mother was also involved. I recommend that the Minister watch that programme if he has not seen it, because the activities of some of these companies are reprehensible and are putting people in impossible situations. I heard reference to the possibility of the FCA introducing caps. Can he confirm that the FCA will take action?