§ Mr. Nichollsasked the Secretary of State for Trade and Industry what recent representations he has received about the availability of credit facilities to young people; and if he will make a statement.
§ Mr. HowardIn the last year I have received some 22 letters expressing concern about consumer over-indebtedness, of which roughly one third have expressed particular concern about the availability of credit facilities to young people. I shall continue to keep the situation under review, but I do not believe it would be right to impose restrictions on the availability of credit to young people. However, the Consumer Credit Act imposes restrictions on the sending of circulars about credit to minors as well as providing a number of other valuable safeguards for all consumers entering into credit agreements.