Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on rent-to-own goods.
Treasury ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. This includes regular meetings with the Financial Conduct Authority (FCA) to discuss relevant regulatory issues.
The Government transferred the regulation of consumer credit to the FCA in 2014. The Government welcomes the ongoing work of the FCA to review the high-cost credit market, including the rent-to-own sector. The Chancellor will not be making a statement at this time.