Consumer Credit Bill

I am sure that you are right, Mr. Deputy Speaker. It is important that we study these matters thoroughly, because they are of great concern. We welcome the fact that the Government have accepted Lords amendment No 5, which was tabled by my colleagues in another place. As the Minister will recall, that amendment addresses a key recommendation of the House of Lords Delegated Powers and Regulatory Reform Committee, which specifically expressed the view that the powers in clause 68 should be subject to the affirmative rather than the negative procedure. We welcome the Government’s rather belated acceptance both of that Committee’s advice and of our amendment. Clause 68 will allow the Secretary of State, by statutory instrument, to modify any Act or subordinate legislation as he thinks fit in consequence of any provision in the Bill. Those are sweeping powers, as hon. Members will realise. Can the Minister give us an indication of the kind of legislation that is likely to be amended as a result of that clause? Of course, as with most legislation that this Government generates, we would have liked less secondary legislation in the first place. A lack of clarity in the Bill will simply lead to confusion both for those who will implement it and those who will be subject to it. What assurances can the Minister give us that orders and guidance published under the Bill will be produced in a timely manner, giving lenders, enforcement agencies and others a proper opportunity to prepare for implementation? The debate has given us the opportunity to seek further clarification, which hon. Members on both sides of the House will wish to pursue. It is fair to say that I have raised a number of important points about the Bill’s implementation, and I look forward to the Minister response. However, as I am aware that other hon. Members wish to contribute to the debate, I want to make some final points. One of our main concerns has been the lack of detail in the Bill. That concern has been recorded throughout the discussions that have taken place in the House. The Lords amendments under consideration today are relevant to two of our particular concerns.