§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry whether she intends to bring forward primary legislation to tackle loan sharks, as outlined in the White Paper, "Fair, Clear and Competitive: A Consumer Credit Market for the 21st Century". [146144]
§ Mr. SutcliffeMy Department is bringing forward a package of legislative proposals—requiring both primary and secondary legislation—to reform the consumer credit market in the UK. Tackling loan sharks is a key part of this package. We have announced a project concerned with hunting loan sharks, though this relies on existing legislative provision. Primary legislation will be used to address the licensing regime for consumer credit providers; time orders; unfair credit transactions and the provision of alternative dispute resolution for consumer credit disputes. Legislation will be introduced when parliamentary time permits.