Autumn Statement – “missed opportunity” to “reform outdated Consumer Credit Act”

“Today was a missed opportunity. Five months ago, the government announced its commitment to reform the outdated Consumer Credit Act, which has been on the statute book for almost five decades and is no longer fit for purpose. It is regrettable that no update on this important work was provided today.

“This reform agenda is vital to ensure that Britain’s regulatory regime keeps pace with innovation and that protections for consumers remain strong, relevant and up to date.

“We urge ministers not to let these plans – which enjoy cross party support and backing from businesses – fall by the wayside.”

Nick Harding, Co-Founder and CEO at Fluro