§ Mr. Loydenasked the Secretary of State for Trade and Industry what representations he has received from organisations on the matter of illegal moneylenders.
§ Mr. FletcherI refer the hon. Member to the answer I gave to his previous questions on 25 June at columns340–41.
§ Mr. Loydenasked the Secretary of State for Trade and Industry what is the highest percentage of interest charged by illegal moneylenders that has been brought to the attention of the Office of Fair Trading.
§ Mr. FletcherThe Office of Fair Trading is aware of cases where the annual percentage rate of charge has run into 1000s. In extreme cases of refinancing the APR can be very much higher.
§ Mr. Loyden asked the Secretary of State for Trade and Industry if he will discuss with the Director General of the Office of Fair Trading the need for more debt counselling services to combat illegal moneylending practices in view of the Director-General's recent statement on this matter.
§ Mr. FletcherI meet the Director General from time to time and discuss a wide range of subjects.