Consumer Credit Bill

The hon. Gentleman makes a good point. I hope that the Minister was listening. The question will be whether the licence is issued to the principal company or has to be applied for and then issued to all the different layers. I hope that the Minister can clarify that. My point—the hon. Gentleman intervened to make a separate point—was about the role of future court decisions in defining what counts as irresponsible lending. I know that the Minister cannot pre-judge what the courts may say in a future case, but for the industry to make sure that it has some certainty and stability to invest, we need to make sure that the OFT’s guidance and what the Minister says, tonight and at other times, assists that process.