§ Mr. Wallerasked the Secretary of State for Trade and Industry what is the current delay in processing applications in respect of consumer credit licences; and if he will take steps to reduce it.
§ Mr. Alexander FletcherThe Consumer Credit Act 1974 imposes on the Director General of Fair Trading the duty of administering the licensing system. He has informed me that it now takes approximately 14 weeks to process a normal application. He has taken steps which he expects to reduce the delay.