Consumer Interests: World Consumer Rights Day

Baroness Farrington of Ribbleton Excerpts

Monday 17th March 2014 Lords Chamber

[Viscount Younger of Leckie]

There are some steps that consumers can take themselves—but, having said that, we are looking at this very closely. The first port of call, as I said, would be Citizens Advice. It will be in a much better position in future to give proper advice on that particular point.

[Baroness Farrington of Ribbleton (Lab)]

My Lords, will the Minister please go back to the supplementary question asked by my noble friend about payday loans? He responded that the ideal solution was well informed, well educated consumers. Surely, people who are under stress and in poverty ought to be protected from such rates of interest, rather than rely on the consumer to be able to investigate at a time of great stress in their lives?

[Viscount Younger of Leckie]

The noble Baroness is correct. Payday loans remain an issue, and we continue to liaise with colleagues in the Treasury to take steps to resolve that important issue.