Current status: Answered by Stewart Maxwell on 2 October 2008
To ask the Scottish Executive what representations it has made to Her Majesty’s Government about limiting interest rates charged by credit and store cards with a view to tackling consumer debt in the context of the Scottish Government’s policies on improving financial inclusion.
We are in regular contact with the UK Government. The UK Government has stated that it believes that increased regulation is not necessarily the best way to achieve a balance between the financial services industry and its customers, on a range of financial inclusion issues.