Oral Answers to Questions

Debate between Stella Creasy and Lord Robathan

Monday 14th November 2011 Commons Chamber

[Stella Creasy (Walthamstow) (Lab/Co-op)]

I am delighted to have raised the consciousness of the Minister about payday loans in our debate last Thursday, and I am pleased to hear his words of condemnation today. May I press him to go a little further? Will he write to his colleagues in the Department for Business, Innovation and Skills to back calls for a cap on the cost of credit to protect our forces families, so that he can turn his outrage into action?

[Mr Robathan]

As I said to the hon. Lady on Thursday, I am already investigating the matter, although I make the point again that it has not been raised with me in the past 18 months that this is an issue with service personnel. I think it is an issue, obviously, because the hon. Lady raised it. It is not my responsibility to write to BIS, but if, in the course of investigations, it appears that that is affecting service personnel, I shall certainly take it up with BIS, as I agree with her—surprisingly—that the rates of interest are ridiculously high and should be capped.