Debt Advice Services

Debate between Baroness Smith of Newnham and Lord Bates

Thursday 6th September 2018 Lords Chamber

[Lord Bates]

Certainly these are causes for concern. That is why we had a gambling review and followed the recommendation to introduce a £2 limit on fixed-odds betting terminals. That is why we put a cap on payday loans, abolished surcharges on credit and debit cards, and why we are currently undertaking a review through the FCA into high-cost credit. All those things are necessary for the reasons suggested by my noble friend.

[Baroness Smith of Newnham (LD)]

My Lords, I think I heard the Minister say that demand for advice has gone up since the end of the crisis, yet household debt is falling. In light of the comments this morning by the noble Lord, Lord Skidelsky—he said that the next crisis is a case of not “if” but “when”—what are the Government doing to create resilience so that we have provisions in place to ensure that if another crisis comes, household debt will not rise further, and that such advice will be in place ahead of time?

Brexit: Financial Settlement

Debate between Baroness Smith of Newnham and Lord Bates

Monday 13th November 2017 Lords Chamber

[Lord Bates]

My noble friend has great experience in this area. He draws my attention to a significant part of the setting out of the principles which the Prime Minister’s speech of 22 September chimed with exactly. Some of the comments coming from the other side do not necessarily recognise that, so it is good to be reminded of it.

[Baroness Smith of Newnham (LD)]

My Lords, in light of the fact that sterling has fallen yet again, does the Minister agree that EU denominated liabilities will increase the greater government uncertainty and instabilities? Is anyone in control? Is it not time for the Prime Minister to get a grip?

[Lord Bates]

She has a grip. That grip was demonstrated in her Florence speech, where she set out our negotiating position, which is very strong and fair. Any settlement would of course be denominated in euros as the currency—we recognise that—but that, too, needs to be taken into account as we agree what the final settlement should be as part of the wider negotiations.