§ 20. Mr. McMasterTo ask the Secretary of State for Trade and Industry what protection his Department is making available to consumers who suffer loss because of retail bankruptcies during the recession.
§ Mr. LeighWhere goods are purchased under a credit agreement, the Consumer Credit Act 1974 provides that the credit grantor is jointly and severally liable with the retailer for breach of contract. This provision applies where the cash price of goods is between £100 and £30,000, with up to £15,000 paid for on credit. I am not aware of any need for further provisions.
§ Mr. McMasterDoes not the Minister recognise that unemployment is shooting up and that businesses the length and breadth of the country are closing? Will he offer some form of protection, or at least some hope, to consumers who are suffering; or will those people have to wait for a Labour Government?
§ Mr. LeighI am not sure whether it is Labour party policy to disagree with the Director General of Fair Trading who said—the hon. Gentleman may not be aware of this—that voluntary initiatives for industry were the right way forward.