The banks that have gone from my high street have been replaced by high-cost credit companies that offer exorbitant rates of interest. I know that the Financial Conduct Authority will have powers over competition. Does the Chancellor accept the argument, made by many Opposition Members, that price inevitably reflects competition, so it is absolutely right that the FCA should look to regulate the price of those products and finally tackle the legal loan sharks?
Financial Services Bill
Proceeding contribution from
Stella Creasy
(Labour)
in the House of Commons on Monday, 6 February 2012.
It occurred during Debate on bills on Financial Services Bill.
Type
Proceeding contribution
Reference
540 c61
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2023-12-15 15:24:05 +0000
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