§ Sir Anthony GrantTo ask the Chancellor of the Duchy of Lancaster if he will take steps to monitor the credit market and in particular, the rates of interest available to personal borrowers; and if he will make a statement.
§ Mr. MaudeMy Department publishes the statistics of United Kingdom credit business monthly in the "Business Monitor", which is available from Her Majesty's Stationery Office. Rates of interest are a matter for commercial decision but the Consumer Credit Act (Total Charge for Credit) Regulations 1980 (SI 1980/51) prescribes all of the charges that must be included in the annual percentage rate of charge, so that this can be made known and that prospective borrowers can make fair comparison before entering into a credit agreement.