Written Question·Treasury·UIN 64757
Credit: Interest Rates
Tabled: 3 July 2025
Answered: 9 July 2025
Question
Wendy Morton
Conservative — Aldridge-Brownhills
To ask the Chancellor of the Exchequer, what steps she is taking to reduce the number of households relying on high-cost credit to meet living expenses.
Answer
Emma ReynoldsThe Financial Conduct Authority (FCA) is responsible for regulating the consumer credit sector. The FCA requires firms to carry out an assessment of the creditworthiness of a prospective borrower before entering into a regulated credit agreement with them...
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