§ Mr. SheermanTo ask the Secretary of State for Trade and Industry what steps he is taking to protect consumers from retailers who charge excessive interest for credit. [53693]
§ Mr. MandelsonThe extortionate credit provisions of the Consumer Credit Act 1974 already apply to retailers and other lenders. The Director General of Fair Trading is consulting on the adequacy of these provisions. Before considering further action I will study the evidence this exercise produces and his proposals.