§ 38. Mr. Hoosonasked the Secretary of State for Prices and Consumer Protection what is the expected total cost of the intended licensing of businesses for the purpose of giving credit; and what amount of undesirable credit transactions it is expected to prevent.
Mr. Alan WilliamsIt is impossible to quantify the number of undesirable transactions that will be prevented by the licensing provisions of the Consumer Credit Act, which are recommended by the Committee on Consumer Credit as part of its proposals to reform and rationalise consumer credit law. The costs, which will be financed by the fees560W charged, are matters for the Director General of Fair Trading and I am asking him to write to the hon. Member.