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Lending (Regulation) Bill

I start from a disadvantage, in not having any notes to explain fully what the Bill is about. However, one thing that it does not seem to be about, but which it should be about, is the warnings given by the Government to the people whom they are inviting to lend them money. The Government are borrowing some £2 trillion, and the principles of affordability—whether the money can be repaid, and if so, when—should apply equally to them and the people who are lending to them as they do to other individuals. I fear that the Bill will create one law for one group of people and a completely separate set of laws for the Government. I also believe that the Bill undermines the principle of individual responsibility. We should make it clear to people who are embarking on taking out loans— The debate stood adjourned (Standing Order No. 11(2)). Ordered, That the debate be resumed on Friday 15 May.