Business of the House

Andy Sawford Excerpts

Thursday 26th June 2014 Commons Chamber

[Mr Lansley]

I am grateful to my hon. Friend. He rightly goes to points that matter a great deal to people. The fall in insurance premiums has been positive, and it is positive that councils across the country have been supported to freeze council tax, which, in many areas, doubled during the life of the previous Government. Relatively low-income households who pay tax have seen £700 come off their tax bill as a consequence of the coalition Government’s commitment to increasing the personal tax allowance. Under Labour plans, fuel duty was due to increase and escalate, but fuel will now be 20p cheaper than it would have been under those plans. There are so many examples of measures that are making a positive difference to people paying their household bills.

[Andy Sawford (Corby) (Lab/Co-op)]

May we have emergency legislation on compensation and compound interest? We should make Wonga pay out not £2.6 million compensation for unfair practice but, at its own outrageous interest rates of 5,853%, £203 trillion. Perhaps then it would understand the misery that it causes.

[Mr Lansley]

The hon. Gentleman will recall the steps that were taken in the previous Session to put a cap on payday lending. We responded to some of the issues. It is important for the Financial Conduct Authority to ensure that this perfectly legitimate business is undertaken in a legitimate fashion. When it is not, it is absolutely right that the enforcement action is tough.