The hon. Lady is absolutely right. It needs to be clearly set out when people take out a loan that such sums could be the result if they are unable to repay it. Let us consider the analogy of tobacco. We no longer allow tobacco advertising, and shops cannot even display packets of cigarettes any more, yet people can ring up Wonga on their mobile phone and take out a loan for which they will be charged 4,214% interest.
Financial Services Bill
Proceeding contribution from
Neil Parish
(Conservative)
in the House of Commons on Monday, 23 April 2012.
It occurred during Debate on bills on Financial Services Bill.
Type
Proceeding contribution
Reference
543 c720
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2023-12-15 16:51:48 +0000
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