Debt Advice Services Debate
Full Debate: Read Full DebateDepartment: Department for International Development
Baroness Smith of Newnham
Main Page: Baroness Smith of Newnham (Liberal Democrat - Life peer)Department Debates - View all Baroness Smith of Newnham's debates with the Department for International Development
(5 years, 8 months ago)
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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?