Ms Noeline Blackwell:

As the Deputy noted, the interest rate charged by moneylenders is horrendous. It is a particularly pertinent point, as every Deputy knows, especially when other forms of credit are so limited right now, including credit union loans and other normal low-cost credit forms. With regard to legislation, some of the points are net and could be dealt with reasonably easily. For example, the business of hire purchase companies not being regulated seems to be an amazing oversight, especially when every third advertisement is now about hire purchase. It seems to be a worrying trend that the protection for consumers for one of the few forms of credit available currently is simply not good enough but could be fixed very simply.