Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if his Department will make an assessment of the potential merits of introducing repayment holidays for vehicle leasing during the covid-19 outbreak.

On 27 April, the Financial Conduct Authority (FCA) published guidance that sets out what it expects firms to do for customers who are facing temporary payment difficulties due to the exceptional circumstances arising from COVID-19. This includes granting the customer a payment deferral for 3 months on motor finance and leasing payments.

The Government continues to work closely with the FCA and industry on this matter and stand ready to protect consumers wherever it is necessary.