Written question asked by Chris Ruane (Labour) on Tuesday, 16 November 2004, in the House of Commons. It was due for an answer on Thursday, 18 November 2004. It was answered by Gerry Sutcliffe (Labour) on Thursday, 18 November 2004 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, what plans she has to introduce legislation to prevent irresponsible lending by loan sharks; and if she will make a statement.

Answer: Chris Ruane: To ask the Secretary of State for Trade and Industry what plans she has to introduce legislation to prevent irresponsible lending by loan sharks; and if she will make a statement. [199244] Mr. Sutcliffe: The Government will introduce the Consumer Credit Bill, when parliamentary time permits, to create a fair, clear competitive market which provides comprehensive protection for consumers. It will do this, in part, by enhancing consumer rights and redress, replacing the current extortionate credit test with a more appropriate one of fairness. In addition, we will improve regulation of consumer credit businesses by strengthening the current licensing regime to keep rogue traders out of the market.

Secondary information