John Battle MP calls for return of Consumer Credit Bill

John has written to Alan Johnson, the new Secretary of State for for The Department of Trade and Industry, to ask for measures to tackle extortionate lending to be included in the Queen’s Speech.

The Consumer Credit Bill passed through the House of Commons but not the House of Lords before the general election.

Mr Battle said, “There was real consensus about this Bill, particularly the need for measures to tackle extortionate lenders. I have asked the new Cabinet Minister responsible for it to ensure the Bill returns to Parliament at the first opportunity.

“I am anxious that desperate people who are locked into long-term unsustainable debt should not wait a moment longer for us to take action.

“The Bill provides a good framework. It is time to review and bring up to date the Consumer Credit Act 1974 because the markets have moved on. We must ensure that the Bill provides greater protection for consumers who borrow money, not least the 10 per cent. of consumers in Britain who use home credit at some time in their lives—in other words, they pay back their debt through weekly doorstep payments. I want to focus on strengthening protection for low-income borrowers who are at risk from high-cost credit lenders.”

Mr Battle is a longstanding campaigner against unscrupulous lenders, and worked on the Bill in its Committee stage as it went through Parliament.

©John Battle MP 12 may 2005