David Linden
Main Page: David Linden (Scottish National Party - Glasgow East)Department Debates - View all David Linden's debates with the Leader of the House
Business of the House
David Linden Excerpts(5 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Andrea Leadsom
I have taken up this issue with Home Office colleagues. I believe that I asked the hon. Lady to write to me if she had a specific question that she wanted me to raise with them. It is Home Office questions on 29 October, so I encourage her to raise the issue directly with the Department then.
David Linden (Glasgow East) (SNP)
Can we have Government statement about payday lending and the role of the Financial Conduct Authority? A recent BBC piece told the story of Danny Cheetham, whose initial £100 loan spiralled to a debt of £19,000. Many constituents have written to me with concerns about this issue, so please can we have a statement from the Economic Secretary to the Treasury about the role of the FCA, which appears to be asleep at the wheel?
Andrea Leadsom
The hon. Gentleman will be aware that a cap was put on payday lending interest rates, although I would sympathise with him if he were to say that it is still too high; this is a genuine problem. The Government has done as much as possible to facilitate new entrants to the lending market. The Budget debate will be a good opportunity to raise this matter directly with Ministers, and I encourage the hon. Gentleman to do so.