Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will have discussions with banks on (a) limits on spending for gambling addicts and (b) issuing loans to gambling addicts.

The Government recognises the important role banks and other financial services can play in supporting efforts to tackle gambling related harm.

Around 90% of retail bank accounts and an increasing number of payment providers now offer opt-in gambling blocks, which can be used to manage customers’ gambling spend. The Government welcomes industry-led improvements to these tools. For example, we are aware some providers have made the gambling management tools more customisable, allowing customers to set gambling spending limits or block all transactions entirely.

Regarding loans to people with gambling addictions, protecting vulnerable consumers is a key priority for the Government and the Financial Conduct Authority (FCA), which regulates the consumer credit market. Under FCA rules, firms undertaking creditworthiness assessments must assess whether a customer will repay, but also the customer’s ability to repay affordably and without significantly affecting their wider financial situation.

Officials meet regularly with the FCA and banks to discuss these issues.

In April 2020, the Gambling Commission also introduced a ban on using credit cards to gamble to help minimise the risk of harm to consumers from gambling with money they do not have.