Home Credit Market

EDM number 379 in 2009-10, proposed by Ian McCartney on 07/12/2009.
Categorised under the topics of Competition and Loans.

That this House notes the ongoing lack of price competition in the home credit market and the devastating impact that high cost credit is having on our poorest communities as reported by Channel 4's Dispatches programme on 7 December 2009; further notes that the Competition Commission's remedies for this market have not had any impact since its inquiry into the home credit market in 2006; further notes that Provident Financial now charges £82 for every £100 lent, which is 26 per cent. higher than was reported three years ago; further notes that Provident now have an estimated 70 per cent. of the market and that the `unfair credit relationship' test introduced by the Consumer Credit Act 2006 has not led to a single instance of prices being lowered; believes that urgent and effective action is now required to help low income borrowers obtain credit at a fair price; and calls on the Government to provide the Office of Fair Trading with a power to cap prices in non-competitive areas of the credit market, or the Competition Commission to immediately review its remedies for the home credit market and or the Financial Services Authority to introduce a rule requiring banks to demonstrate how they are helping to expand access to affordable credit, for example by partnering with credit unions.

This motion has been signed by a total of 79 MPs, 2 of these signatures have been withdrawn.

MP	Date	Constituency	Party	Type
Ian McCartney	07/12/2009	Makerfield	Labour	Proposed
John Battle	07/12/2009	Leeds West	Labour	Seconded
Alan Whitehead	07/12/2009	Southampton, Test	Labour	Seconded
Russell Brown	07/12/2009	Dumfries & Galloway	Labour	Seconded
Ian Stewart	07/12/2009	Eccles	Labour	Seconded
Eric Joyce	07/12/2009	Falkirk	Labour	Seconded
Mark Durkan	07/12/2009	Foyle	Social Democratic and Labour Party	Signed
David Taylor	08/12/2009	North West Leicestershire	Labour	Withdrawn
Iris Robinson	08/12/2009	Strangford	DUP	Withdrawn
Gisela Stuart	08/12/2009	Birmingham, Edgbaston	Labour	Signed
Mike Hancock	08/12/2009	Portsmouth South	Liberal Democrat	Signed
Andrew George	08/12/2009	St Ives	Liberal Democrat	Signed
David Drew	08/12/2009	Stroud	Labour	Signed
Andrew Dismore	08/12/2009	Hendon	Labour	Signed
Ann Cryer	08/12/2009	Keighley	Labour	Signed
Gregory Campbell	08/12/2009	East Londonderry	DUP	Signed
Colin Breed	08/12/2009	South East Cornwall	Liberal Democrat	Signed
Jim Sheridan	08/12/2009	Paisley & Renfrewshire North	Labour	Signed
Marsha Singh	08/12/2009	Bradford West	Labour	Signed
Lindsay Hoyle	08/12/2009	Chorley	Labour	Signed
Lynne Jones	08/12/2009	Birmingham, Selly Oak	Labour	Signed
David Lepper	08/12/2009	Brighton, Pavilion	Labour	Signed
Alan Meale	08/12/2009	Mansfield	Labour	Signed
Nigel Dodds	09/12/2009	Belfast North	DUP	Signed
Paul Flynn	09/12/2009	Newport West	Labour	Signed
Kevin Barron	09/12/2009	Rother Valley	Labour	Signed
Peter Bottomley	09/12/2009	Worthing West	Conservative	Signed
John Leech	09/12/2009	Manchester, Withington	Liberal Democrat	Signed
Lindsay Roy	09/12/2009	Glenrothes	Labour	Signed
Jim Dobbin	09/12/2009	Heywood & Middleton	Labour	Signed
Jeremy Corbyn	09/12/2009	Islington North	Labour	Signed
Martin Caton	09/12/2009	Gower	Labour	Signed
David Simpson	09/12/2009	Upper Bann	DUP	Signed
Dai Havard	09/12/2009	Merthyr Tydfil & Rhymney	Labour	Signed
George Howarth	09/12/2009	Knowsley North & Sefton East	Labour	Signed
William McCrea	09/12/2009	South Antrim	DUP	Signed
John McDonnell	09/12/2009	Hayes & Harlington	Labour	Signed
Ronnie Campbell	09/12/2009	Blyth Valley	Labour	Signed
Rudi Vis	10/12/2009	Finchley & Golders Green	Labour	Signed
Derek Twigg	10/12/2009	Halton	Labour	Signed
Doug Naysmith	10/12/2009	Bristol North West	Labour	Signed
Rosemary McKenna	10/12/2009	Cumbernauld, Kilsyth & Kirkintilloch East	Labour	Signed
Brian Jenkins	10/12/2009	Tamworth	Labour	Signed
Eric Illsley	10/12/2009	Barnsley Central	Labour	Signed
David Anderson	14/12/2009	Blaydon	Labour	Signed
Paul Truswell	14/12/2009	Pudsey	Labour	Signed
Frank Doran	14/12/2009	Aberdeen North	Labour	Signed
Annette Brooke	14/12/2009	Mid Dorset & North Poole	Liberal Democrat	Signed
Nick Harvey	14/12/2009	North Devon	Liberal Democrat	Signed
Terry Rooney	14/12/2009	Bradford North	Labour	Signed
John Mason	15/12/2009	Glasgow East	Scottish National Party	Signed
Gordon Banks	15/12/2009	Ochil & Perthshire South	Labour	Signed
Fabian Hamilton	15/12/2009	Leeds North East	Labour	Signed
Neil Gerrard	15/12/2009	Walthamstow	Labour	Signed
Brian Iddon	15/12/2009	Bolton South East	Labour	Signed
Gwyn Prosser	15/12/2009	Dover	Labour	Signed
Mark Todd	16/12/2009	South Derbyshire	Labour	Signed
Kitty Ussher	05/01/2010	Burnley	Labour	Signed
Katy Clark	05/01/2010	Ayrshire North & Arran	Labour	Signed
Mike Wood	05/01/2010	Batley & Spen	Labour	Signed
Kelvin Hopkins	05/01/2010	Luton North	Labour	Signed
David Heyes	05/01/2010	Ashton-under-Lyne	Labour	Signed
Alan Simpson	07/01/2010	Nottingham South	Labour	Signed
Dari Taylor	07/01/2010	Stockton South	Labour	Signed
Roger Godsiff	12/01/2010	Birmingham, Sparkbrook & Small Heath	Labour	Signed
Bill Etherington	19/01/2010	Sunderland North	Labour	Signed
Michael Clapham	20/01/2010	Barnsley West & Penistone	Labour	Signed
Anne Main	27/01/2010	St Albans	Conservative	Signed
Eddie McGrady	27/01/2010	South Down	Social Democratic and Labour Party	Signed
Tom Harris	27/01/2010	Glasgow South	Labour	Signed
Alan Reid	27/01/2010	Argyll & Bute	Liberal Democrat	Signed
Louise Ellman	02/02/2010	Liverpool, Riverside	Labour	Signed
Andy Slaughter	03/02/2010			Signed
David Hamilton	08/02/2010	Midlothian	Labour	Signed
Jennifer Willott	09/02/2010	Cardiff Central	Liberal Democrat	Signed
Norman Baker	22/02/2010	Lewes	Liberal Democrat	Signed
Susan Kramer	10/03/2010	Richmond Park	Liberal Democrat	Signed
Jim Cousins	11/03/2010	Newcastle upon Tyne Central	Labour	Signed
Joe Benton	29/03/2010	Bootle	Labour	Signed

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