PROVISION OF CONSUMER CREDIT REGULATION AND ADVICE

Motion Text

That this House recognises the high levels of personal debt accrued within British society, the restricted access to affordable credit for those on low incomes or with poor credit ratings and the excessive rates of interest charged by many licensed agencies; and therefore believes Government should take action to provide certain limits on consumer credit interest rates and charges, to establish a levy on credit and debit card providers to fund the provision of debt advice services, to give powers to local authorities to restrict the provision of premises for licensed consumer credit agencies within a local area and to make provision regarding the availability of certain financial services products currently offered by credit unions at branches of the post office by supporting measures to ensure provision in every community of consumer credit regulation and advice.