Consumer Rights Bill
Debate between Baroness Jolly and Lord Mitchell
Baroness Jolly
Nobody wants young children to grow up thinking that payday loans are the right way to go but we believe that currently there is a tough package of measures in place to ensure that vulnerable consumers are protected from inappropriate practices. I hope that the noble Lord will see fit to withdraw the amendment.
Lord Mitchell
I just want to make the point again that there is a difference between advertising that is directed at children and advertising that they just happen to see, but that really they are the same thing none the less. Children see them.
Baroness Jolly
Indeed. However, advertising of payday loans is less targeted towards children currently than it may have been in times past. There is also a larger issue here around parents helping children to understand. These adverts are shown in all houses, whether or not the parents have a problem with payday loans. There is an issue for parents to teach their children that this is not the way to go, even though for the majority of parents, that is not the case. However, the Government believe that regulation rather than statutory legislation is the way to move forward in these particular cases.