Oral Answers to Questions

Jeremy Quin Excerpts

Wednesday 9th May 2018 Commons Chamber

[The Prime Minister]

I will tell the right hon. Gentleman what this Government have been doing to defend jobs. We have had a balanced approach to the economy, opposed by the Labour party. We have introduced changes in legislation for more workers’ rights, often opposed by the Labour party. We have been ensuring that we see jobs being created in this country—employment is at its highest rate since records began, and unemployment is at its lowest rate for 40 years or more. This is a Government that are putting jobs first at every stage of what we are doing. Last week, what we saw up and down this country, whether in Barnet, Dudley or Peterborough, was the British people voting to reject the back-to-the-future economic policy of the Labour party and the broken promises of Labour. They do not trust Labour, and they do not trust its leader.

[Jeremy Quin (Horsham) (Con)]

Q10. Under this Government, the introduction of a total cost cap on payday lending has more than halved the number of people with problem payday loans that are unmanageable. Does my right hon. Friend agree that now is the moment for the Financial Conduct Authority to extend that successful policy to confront doorstep lending?

[The Prime Minister]

I know that my hon. Friend has been campaigning hard to promote financial inclusion, which is very important. We are committed to ensuring that consumers are protected from unfair lending practices. I understand that the FCA is currently conducting a review of the high-cost credit market, including doorstep lending, and will publish an update later this month. Of course, we have also given the FCA new powers to cap the cost of credit, and it will do so if it believes that necessary to protect consumers.