30. Mr. Allen Robertsasked the Secretary of State for Trade if he will introduce legislation to protect consumers from the excessive rates of interest being charged on loans to low-income families to enable them to purchase Christmas presents for their children, in view of long-term hardships that have been caused this Christmas to such families.
§ Mrs. Sally OppenheimNew primary legislation is unnecessary. The Consumer Credit Act will, when fully operative, give very comprehensive consumer protection. Already the Advertisements and Quotations Regulations enable consumers to ascertain the cost of credit. The Act gives the courts power to reopen extortionate credit bargains.