Date lodged: 11 October 2016
To ask the Scottish Government, in light of the Scottish Centre for Population Health recently suggesting that payday lending as a public health concern, what measures it can take to provide alternatives to the practice.
Answered by: Angela Constance 26 October 2016
The Financial Conduct Authority introduced a price cap on what high-cost short-term credit lenders can charge on 2 January 2015. While recent evidence relating to these changes suggests a reduction in payday lending activity, the Scottish Government remains committed to encouraging the provision of alternatives to high cost lending.