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ITEM CC16

COUNTY COUNCIL – 9 SEPTEMBER 2003

Amended Form of Motion to be moved by Councillor Brian Hodgson

This Council’s Trading Standards Service has reported receiving nearly 9,000 new enquiries about debt-related problems during 2002/03, and that the average of those households’ total debt had increased by 17% compared with those making contact during the previous year. This Council therefore urges the government to consider the proposal of "Debt on our Doorstep", the national network for fair finance, to cap interest charges. Research in this country shows that interest rates over 180% APR are routinely being charged by doorstep lenders. This Council urges the government to consider all the issues raised by "Debt on our Doorstep", which is urging the government to help new organisations, such as credit unions, to enter this market and offer more competitive products.

NOTE: "Debt on our Doorstep" is sponsored by Church Action on Poverty, Oxfam and Unison.

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