Nick Smith
Main Page: Nick Smith (Labour - Blaenau Gwent)Department Debates - View all Nick Smith's debates with the Department for Transport
(6 years, 2 months ago)
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Nick Smith
On a point of order, Mr Speaker. During business questions last Thursday, I asked the Leader of the House about the “eye-watering” interest rates charged by rent-to-own firms. In response, she said that the Financial Conduct Authority
“has capped the interest rates that such companies are allowed to charge”—[Official Report, 1 February 2018; Vol. 635, c. 1002.]
Unfortunately, no such cap has yet been placed on these interest rates. I thought that I would aid the Leader of the House by clarifying the point for the record.
Mr Speaker
Well, the hon. Gentleman has achieved his objective. Moreover, he may feel gratified that the Leader of the House is in her place. She is under no obligation to say anything, but she is welcome to do so if she wishes.