Question to the HM Treasury:

To ask the Chancellor of the Exchequer, when his Department plans to publish the response to the consultation on proposed draft legislation to bring buy-now pay-later products into regulation; and, with reference to Part J of the Government's publication entitled Consultation principles: guidance updated 19 March 2018, for what reasons has the Department not responded within the 12 week timeframe.

The Government received a large number of substantive and detailed responses to its consultation on draft legislation to bring Buy-Now Pay-Later (BNPL) into regulation. These responses have required careful consideration to ensure that the Government’s approach to regulation is proportionate and delivers on the Government’s intention to protect BNPL borrowers without unduly restricting access to these useful interest-free products.

The Government expects to publish a response to the consultation, which will set out next steps, in due course.