Consumer Credit Regulation

As ever, my hon. Friend makes an incredibly practical and important point on these issues, which I shall come back to at the end of my comments when I consider to the third component of the action that we can take to protect the poorest consumers in Britain. I shall quickly return to my point about access to affordable credit. We must learn lessons and consider how to increase affordable credit access through the existing UK market. We know that that can be done, because people are already doing it. Credit unions and social enterprises such as Fair Finance are demonstrating that it is possible to lend as reasonable rates, to provide money advice services, and to help people to make credit work for them.