High Cost Credit Bill

Jo Swinson Excerpts

Friday 12th July 2013 Commons Chamber

[The Parliamentary Under-Secretary of State for Business, Innovation and Skills (Jo Swinson)]

I very much thank the hon. Member for Sheffield Central (Paul Blomfield) for introducing his Bill and giving the House the opportunity to discuss this matter. We have heard some excellent speeches from hon. Members on both sides of the House, and it is clear that this important issue affects people in every one of our constituencies. Although it is true that some people can take out a payday loan and have no problem with it, finding it a useful product, it is also true that many others have a very different experience indeed. We have heard some of the case studies; we heard about the experiences of individuals and the misery they have found themselves in as a result of a spiral of debt, much of which is not always helped by the payday loans and the behaviour of those in the industry.

[Mr Thomas]

Can the Minister be clear with the House at the outset about whether she intends to encourage the Friday wolves on her Back Benches to talk out the Bill or whether she will support it and allow it to go to Committee?

[Jo Swinson]

I can certainly let the hon. Gentleman know that my intention is to make a speech of a reasonable length, and I am happy to take interventions and ensure that the House has the opportunity to question the Minister on these issues. I have to say that Friday is not my favourite day to be in the House because of some of the behaviour that is often on display.

I shall certainly address the points raised by the hon. Member for Sheffield Central. I appreciate the work that he has—

Proceedings interrupted (Standing Order No. 11(4)).