Oral Answers to Questions
Debate between Susan Elan Jones and Matt Hancock(10 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Susan Elan Jones (Clwyd South) (Lab)
T3. I know that many of us were waiting with a great deal of interest for the Financial Conduct Authority’s new rules on payday lending, but does the Minister share my disappointment that it did not come up with a much tougher action plan on advertising?
Matthew Hancock
We were clear in our consultation on payday lending that we had put all the options for change on the table. We have taken the consultation seriously and that has included my meeting many of the stakeholders. We will do what it takes, but we will do what works—and what works for businesses large and small, focusing especially on the needs of small businesses—but we will not make changes just to satisfy calls and headlines. We will make sure that the system works as properly as possible.