Written question asked by Jim Cousins (Labour) on Friday, 16 March 2001, in the House of Commons. It was due for an answer on Thursday, 22 March 2001. It was answered by Kim Howells (Labour) on Thursday, 22 March 2001 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask the Secretary of State for Trade and Industry, if he will make a statement on the personnel involved in the Debt Task Force, its work programme and the preliminary conclusions it has reached.

Answer: Mr. Cousins: To ask the Secretary of State for Trade and Industry if he will make a statement on the personnel involved in the debt taskforce, its work programme and the preliminary conclusions it has reached. [154813] Dr. Howells: The debt taskforce I set up to explore the cause and effect of overindebtedness and develop practical solutions for achieving more responsible lending and borrowing is made up of representatives from: British Bankers Association Consumer Credit Association Experian Finance and Leasing Association Financial Services Authority National Association of Citizens Advice Bureaux Office of Fair Trading Personal Finance and Research Centre. I have asked the taskforce to look at three key issues: improving the transparency of information provided to consumers before and when concluding an agreement; including the small print adoption of core principles of lending practice; including examining an applicant's overall borrowing exposure and ability to repay requiring clear notification to consumers on free and low interest agreements before the final payment is made. The taskforce will present its report and recommendations to me in April.

Secondary information

Type: Written question
Reference: 154813; 365 c311W
Session: 2000-01
Subjects: Consumers Disadvantaged Debts Credit agreements Credit Information Protection Poverty Loans Debt Task Force
Link: View this Written question on www.publications.parliament.uk