Consumer Credit (Hansard, 27 November 1991)

§ Mr. Ieuan Wyn Jones
To ask the Secretary of State for Trade and Industry if he has any plans to review the licence fees for consumer credit and ancillary businesses.
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§ Mr. Leigh
No. The licence fees for consumer credit and ancillary credit business are kept under review by the Director General of Fair Trading.

§ Mr. Ieuan Wyn Jones
To ask the Secretary of State for Trade and Industry if he will make it his policy to increase the upper limit for loans that fall within the scope of the Consumer Credit Act to £25,000.

§ Mr. Leigh
It is intended that the monetary limits in the Consumer Credit Act should be reviewed next year and it would not be appropriate to prejudge the outcome of that review.

§ Mr. Ieuan Wyn Jones
To ask the Secretary of State for Trade and Industry if he will make it his policy to amend the Consumer Credit Act 1974 in order to place a duty on lenders to make a credit reference search for all loans or revolving credit limits of £500 or more.

§ Mr. Leigh
No. Lenders should be allowed to choose the method or methods of checking the creditworthiness of prospective borrowers.