Financial Services Bill

Baroness Coussins Excerpts

Committee stage & Lords Hansard
Wednesday 3rd March 2021 Grand Committee

Moved by

[Baroness Coussins]

52: Clause 34, page 40, line 15, leave out “and (4)” and insert “, (4) and (4A)”
Member’s explanatory statement
This amendment, and the amendment to page 40, line 32 in the name of Baroness Coussins, would require that the Statutory Debt Repayment Plan element of the debt respite scheme would have to come into force before 1 May 2024.

[Baroness Coussins (CB)]

My Lords, I am very glad to open the debate on this group, although I fear that we may be interrupted at least twice if votes are called in the Chamber; I see that the Minister is on his feet there now.

I declare my interest as an ambassador and former president of the Money Advice Trust, the charity that runs National Debtline and Business Debtline. In moving Amendment 52, I will also speak to Amendment 67 in my name, to which the noble Baronesses, Lady Morgan of Cotes and Lady Kramer, and the noble Lord, Lord Rooker, have added their names. I warmly welcome their support.

Before dealing with my own amendments, though, I want to say a brief word about the probing Amendment 54 in this group, in the name of the noble Lord, Lord Stevenson, who has done so much to secure the introduction of both the Breathing Space scheme and Statutory Debt Repayment Plans. I hope the Minister will be able to provide clarity today on universal credit advances and third-party deductions, and I am sure the noble Lord, Lord Stevenson, will set out further details on those issues. At Second Reading, I also mentioned the problem of lead generator firms or imposter websites, so I also welcome Amendment 111 in this group, in the name of the noble Lord, Lord Holmes of Richmond, and others. I look forward to hearing the Minister’s response on what action the Government intend to take on this issue.

--- Later in debate ---

Overall, with those explanations, and with the undertakings that I have given to engage further with noble Lords, I hope they will feel able to withdraw or not move the amendments in this group.

[Baroness Coussins (CB)]

I thank all noble Lords who have contributed to the debate on this important group of amendments, especially those who supported my own two amendments on the introduction of SDRPs.

I am extremely grateful to the Minister for such an encouraging and sympathetic response. I will say only that the inclusion of the date of 1 May 2024 is there not as a fixed date but as a “no later than” date. Nevertheless, he has given me enough hope that we might meet again between now and Report to have a further discussion on this issue to see if any further progress can be made. In the meantime, I beg leave to withdraw the amendment.

Amendment 52 withdrawn.