LEVEL OF INTEREST RATES ON LOANS

Early day motion 2448, tabled 21 November 2011 by David Morris (Conservative). Signed by 31 members.

That this House notes that wonga.com is currently advertising a typical interest rate of 4214 per cent. and that this is not the only institution offering a similar service; further notes that these high interest rates are often paid by the poorest in society; believes that all financial institutions have a right to make a profit but that these companies are adding to poor families' financial problems; and further believes that the time is right to restrict the level of interest that can be charged on loans.

Signatures by party: Labour 14, Liberal Democrat 5, DUP 4, Conservative 3, Social Democratic and Labour Party 3, Plaid Cymru 1, Scottish National Party 1.