§ Mr. GardinerTo ask the Secretary of State for Trade and Industry what plans she has to set maximum(a) charging structures and (b) interest rates for (i) personal loans, (ii) credit cards, (iii) store cards and (iv) sub-prime loans. [136288]
§ Mr. SutcliffeThe Department has considered the issue of interest rate ceilings for the consumer credit market in the context of its review of the Consumer Credit Act. We are not persuaded of the case for introducing such ceilings. However, we have commissioned research into the way interest ceilings work in other EU countries.
Proposals in these areas and others, will be included in the forthcoming Consumer Credit White Paper, due for publication in December.