Motor Vehicles: Credit — Written Question

Question

Dave Doogan

Scottish National Party — Angus and Perthshire Glens

To ask the Chancellor of the Exchequer, what assessment she has made of the potential economic impact on Scottish communities of the estimated £551 million shortfall between the Financial Conduct Authority's proposed motor finance redress scheme pay outs

Answer

Lucy Rigby

The Government wants to see this issue resolved in an efficient and orderly way that provides certainty for consumers and firms. The Financial Conduct Authority (FCA), as the independent regulator, has consulted on proposals for a motor finance consumer r...

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