Richard Burden
Main Page: Richard Burden (Labour - Birmingham, Northfield)Department Debates - View all Richard Burden's debates with the HM Treasury
(9 years ago)
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Richard Burden (Birmingham, Northfield) (Lab)
Q1. If he will list his official engagements for Wednesday 9 December.
The First Secretary of State and Chancellor of the Exchequer (Mr George Osborne)
The Prime Minister is visiting Poland and Romania, and I have been asked to reply.
This morning I had meetings with ministerial colleagues and others. In addition to my duties in the House, I shall have further such meetings later today.
Richard Burden
The Chancellor will know that, as Christmas draws closer, people who are having difficulty in making ends meet will not experience much good will in the season of good will if they fall into the clutches of loan sharks as they try to buy presents for their families, so why is he choosing now to cut the budget of the Birmingham-based England illegal money-lending team by a third, although it has helped 24,000 loan shark victims to get £63 million of illegal debts written off? Will he have a word with his friend the Business Secretary, who seems to be refusing to answer questions from the Daily Mirror on the subject?
Mr Osborne
Of course we take very seriously the issue of illegal loan sharks and, indeed, that of excessive interest charges on payday lending, which is why it was Conservatives who introduced the first ever cap on payday lending. As for the hon. Gentleman’s specific question about funding for illegal money laundering and loan shark teams, we are considering the imposition of a levy on the industry to meet the requirements that he has identified.