§ Mr. Albert Robertsasked the Secretary of State for Trade and Industry if he will take steps designed to protect the public, when borrowing money from finance companies, from being charged exorbitant rates of interest.
§ Sir G. HoweThe Government are already preparing a major reform of consumer credit law which will apply to all types of credit agreement, so far as this is reasonable. Provision will also be made for minimum statutory rebates of charges when debts are called in early or when the borrower wishes to repay early, and for the courts to re-open the terms of any agreements which they consider to be harsh and unconscionable. In the meanwhile, I am making inquiries about one particular case to which my attention has been drawn.