§ Mr. Richard Wainwrightasked the Secretary of State for Prices and Consumer Protection whether he will alter the timetable for the introduction of the Consumer Credit Act 1974; and if he will make a statement.
§ Mr. John FraserI am keeping implementation of the Act under constant review, bearing in mind the necessity to provide adequate protection for consumers; to reduce the burden on local authorities; to avoid an excessive burden on traders at any one time and to have adequate consultation with interested parties on all relevant matters. I hope to make a statement shortly about the next stage of licensing together with provisions relating to extortionate credit bargains and disclosure by credit reference agencies of files kept by them on consumers.