§ Mr. Chaytor
To ask the Secretary of State for Trade and Industry what plans he has to review the regulatory framework governing the activities of private money lenders; and if he will make a statement. 
§ Dr. Howells
My right hon. Friend the Secretary of State published last week the Government's Consumer Strategy White Paper "Modern markets: confident consumers", which sets out many proposals to improve and review consumer credit legislation. These include:reviewing the consumer credit licensing system;103Wrequiring wealth warnings to be included in documents given to prospective customers instead of transient advertisements on radio, television and cinema;changing the wealth warning required in advertisements for equity release schemes;changing the way the annual percentage rate of charge (APR) of the total charge of credit is calculated in the UK so that it is calculated on the same basis throughout the European Union;changing the way the APR for low-start mortgages is calculated; andreviewing rules on extortionate credit.
A copy of the White Paper is available from the Library of the House.