Credit Unions

Lord Elystan-Morgan Excerpts

Thursday 16th January 2014 Lords Chamber

[Lord Wallace of Saltaire]

My Lords, I think that we are about to trespass on the next debate. The Cabinet Office nudges other departments; whether it can direct them is a question on which the noble Lord, Lord Hennessy, will no doubt touch in a few minutes.

[Lord Elystan-Morgan (CB)]

The Minister will be well aware of the popularity of credit unions in Australia, New Zealand, Canada and particularly the Republic of Ireland, where I think the figure of support is of the order of 50%. Am I right in thinking that the equivalent figure for the United Kingdom is somewhere between 1% and 1.5%?

[Lord Wallace of Saltaire]

My Lords, I have 2% in my brief, but that is still a very small figure. Given the reduction in bank services in a number of areas in this country, this is an issue that we should all encourage. Noble Lords, including the noble Lord, Lord Kennedy, will remember the most reverend Primate the Archbishop of Canterbury talking about the Church of England becoming more extensively involved in the credit union movement.