§ 2. Mr. Kinnock
asked the Secretary of State for Prices and Consumer Protection if she will consider introducing legislation to control the interest rates which finance houses charge for car purchase loans.
Mr. Alan Williams
The Consumer Credit Bill, now passing through Parliament, will require full disclosure of all charges, and this will enable consumers to see what range of rates and charges are available from different sources. It will also enable the courts to reopen agreements with extortionate rates.