Consumer Credit Bill

I would certainly never take the Church to task on any topic. I simply drew to the attention of the right reverend Prelate the benefits that come from the explosion in the availability, particularly, of white goods to those who are less well off in our society. I suspect that that has enhanced the lives of millions of people since the explosion in consumer credit. I understand the right reverend Prelate’s argument. However, does he believe that those principles would be best left to the Office of Fair Trading, completely unregulated by Parliament, rather than attempting in an amendment to ensure that those requirements are met? If the right reverend Prelate does not like this amendment, it is open to him to produce another one. The principle that the noble Lord, Lord De Mauley, and I are trying to bring forward is that Parliament rather than the Office of Fair Trading should regulate how these issues are dealt with. As the noble Lord, Lord Borrie, is no longer head of the OFT, he cannot ensure that the views expressed by the right reverend Prelate are given proper expression. Does the right reverend Prelate not think that his remarks agree with the thrust of what the noble Lord, Lord De Mauley, and I are saying—that we should be regulating this rather than leaving it to the OFT? [The Sitting was suspended for a Division in the House from 3.45 to 3.53 pm]