Andrew Selous
Main Page: Andrew Selous (Conservative - South West Bedfordshire)Department Debates - View all Andrew Selous's debates with the Northern Ireland Office
(11 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Prime Minister
I remind the hon. Gentleman that when his hon. Friends were in charge, the bonuses were higher, the banks were going bust and there was no proper regulation. That is why we are dealing with the mess—[Interruption.] He can try and wave it away, but the right hon. Members for Doncaster North (Edward Miliband) and for Morley and Outwood (Ed Balls) were sitting in the casino when the wheels stopped spinning and the country nearly went bust.
Andrew Selous (South West Bedfordshire) (Con)
Q9. Does the Prime Minister welcome the action taken today by the Office of Fair Trading to ensure that payday lenders behave responsibly and fairly?
The Prime Minister
My hon. Friend raises an important case because a number of payday lenders have been behaving in a completely irresponsible way. The OFT is putting 50 firms on notice over their behaviour, and requiring them to take specific actions or face fines or have their licences revoked. The OFT is also consulting on referring the entire sector to the Competition Commission. Action is being taken and I commend the OFT for what it has done.