Buy-Now Pay-Later (BNPL) is an interest-free product which gives consumers a time-limited means of spreading payments for their purchases. When used responsibly and provided affordably it can be a helpful way for consumers to manage their finances and make purchases.<\/p>
<\/p>
Many consumers are attracted to BNPL because of its interest-free nature, which the Government considers makes it inherently lower risk than most other types of credit. The FCA\u2019s most recent Financial Lives survey found that 46% of people of who had used BNPL in the past 12 months chose it because it was interest-free. In addition, the survey found that 88% of users found it easy to keep track of their repayments.<\/p>
<\/p>
As such, BNPL represents a popular alternative to traditional, interest-bearing forms of credit like credit cards and personal loans. For some financially vulnerable consumers it may also provide an alternative to high-cost and illegal lending. Further data from the FCA shows that around 14 million adults used BNPL in the six months to January 2023 and that the average outstanding BNPL balance is low at £236.<\/p>
<\/p>
The Government\u2019s consultation on proposed draft legislation to bring Buy-Now Pay-Later into regulation closed in April. Since then the Government has been carefully considering stakeholder feedback. The Government will publish a response to the consultation once it is finalised in due course.<\/p>
<\/p>
In the meantime, BNPL users already benefit from broader consumer protection legislation, including on advertising and unfair contract terms. The FCA also has existing powers to take action against firms, which it used as recently as Tuesday 31 October to secure changes to firms' potentially unfair and unclear contract terms. Some BNPL firms have also introduced a credit \u2018opt-out\u2019 function for their customers.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4639", "label" : {"_value" : "Biography information for Bim Afolami"} } , "answeringMemberConstituency" : {"_value" : "Hitchin and Harpenden"} , "answeringMemberPrinted" : {"_value" : "Bim Afolami"} , "dateOfAnswer" : {"_value" : "2023-11-16", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-11-16T17:12:48.747Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-11-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit: Regulation"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, if he will make it his policy to introduce interim measures to protect buy now pay later borrowers.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4488", "label" : {"_value" : "Biography information for Martyn Day"} } , "tablingMemberConstituency" : {"_value" : "Linlithgow and East Falkirk"} , "tablingMemberPrinted" : [{"_value" : "Martyn Day"} ], "uin" : "1200"} , {"_about" : "http://data.parliament.uk/resources/1462464", "AnsweringBody" : [{"_value" : "Home Office"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1462464/answer", "answerText" : {"_value" : "
Everyone considered for relocations will be screened and have access to legal advice. Decisions will be taken on a case-by-case basis, and nobody will be removed if it is unsafe or inappropriate for them, including in relation to an individual\u2019s specific medical needs.<\/p>
Under the Memorandum of Understanding governing the Migration and Economic Development Partnership, the Government of Rwanda has committed to ensuring support is provided to ensure the health, security and wellbeing of relocated individuals.<\/p>
Rwanda\u2019s constitution includes a broad prohibition on discrimination.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4369", "label" : {"_value" : "Biography information for Tom Pursglove"} } , "answeringMemberConstituency" : {"_value" : "Corby"} , "answeringMemberPrinted" : {"_value" : "Tom Pursglove"} , "dateOfAnswer" : {"_value" : "2022-05-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-05-19T14:19:28.537Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "1"} , "answeringDeptShortName" : {"_value" : "Home Office"} , "answeringDeptSortName" : {"_value" : "Home Office"} , "date" : {"_value" : "2022-05-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Refugees: Rwanda"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for the Home Department, what steps she is taking to help ensure that people living with HIV who are removed to Rwanda will have (a) access to the same standard of care, including medical treatment, (b) protections against stigma and (c) rights to confidentiality that they would have been entitled to in the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4430", "label" : {"_value" : "Biography information for Alison Thewliss"} } , "tablingMemberConstituency" : {"_value" : "Glasgow Central"} , "tablingMemberPrinted" : [{"_value" : "Alison Thewliss"} ], "uin" : "1200"} , {"_about" : "http://data.parliament.uk/resources/1314476", "AnsweringBody" : [{"_value" : "Home Office"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1314476/answer", "answerText" : {"_value" : "
The Government is committed to giving police the resources they need to tackle the scourge of crime, including supporting police forces to recruit an additional 20,000 police officers by March 2023. Despite the challenges of COVID-19, the police have now recruited an extra 8,771 officers, 44% of the 20,000-officer target, and have therefore exceeded the first target of 6,000 additional officers by March 2021. The police workforce is now more representative of the communities it serves than ever before, with the latest data showing the highest proportion of black, Asian, and minority ethnic and female officers since records began.<\/p>
In 2021-2022, we are providing £425m to spend on the recruitment of 6,000 additional officers by 2022. Of this, PCCs will receive £415m for territorial policing and Regional Organised Crime Units.<\/p>
The police's ability to fulfil their duties is dependent on their ability to secure and maintain public trust and support for their actions, as part of the model of policing by consent.<\/p>
That is why the Government have put in place measures to ensure that policing is subject to appropriate levels of transparency and accountability. This includes regular inspections by Her Majesty\u2019s Inspectorate of Constabulary and Fire and Rescue Services (HMICFRS), publication of data on the use of police powers and strengthening the police complaints and discipline systems.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4495", "label" : {"_value" : "Biography information for Kit Malthouse"} } , "answeringMemberConstituency" : {"_value" : "North West Hampshire"} , "answeringMemberPrinted" : {"_value" : "Kit Malthouse"} , "dateOfAnswer" : {"_value" : "2021-05-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-05-19T09:45:41.627Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "1"} , "answeringDeptShortName" : {"_value" : "Home Office"} , "answeringDeptSortName" : {"_value" : "Home Office"} , "date" : {"_value" : "2021-05-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Community Policing"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for the Home Department, what steps she is taking to improve police presence and trust in local communities.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4742", "label" : {"_value" : "Biography information for Stuart Anderson"} } , "tablingMemberConstituency" : {"_value" : "Wolverhampton South West"} , "tablingMemberPrinted" : [{"_value" : "Stuart Anderson"} ], "uin" : "1200"} , {"_about" : "http://data.parliament.uk/resources/1178045", "AnsweringBody" : [{"_value" : "Department for International Trade"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1178045/answer", "answerText" : {"_value" : "
Now that we have left the EU, the UK will be able to negotiate, sign and ratify new free trade agreements. We are working to begin formal negotiations with key partners, including the United States, Australia, New Zealand and Japan, as swiftly as possible. We will also seek accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1526", "label" : {"_value" : "Biography information for Greg Hands"} } , "answeringMemberConstituency" : {"_value" : "Chelsea and Fulham"} , "answeringMemberPrinted" : {"_value" : "Greg Hands"} , "dateOfAnswer" : {"_value" : "2020-02-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2020-02-25T15:52:59.287Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "202"} , "answeringDeptShortName" : {"_value" : "International Trade"} , "answeringDeptSortName" : {"_value" : "International Trade"} , "date" : {"_value" : "2020-02-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Trade Agreements"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for International Trade, what dates have been set for trade negotiations with (a) the USA, (b) Australia (c) New Zealand and (d) Trans-pacific partnership.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1491", "label" : {"_value" : "Biography information for Kerry McCarthy"} } , "tablingMemberConstituency" : {"_value" : "Bristol East"} , "tablingMemberPrinted" : [{"_value" : "Kerry McCarthy"} ], "uin" : "1200"} , {"_about" : "http://data.parliament.uk/resources/732561", "AnsweringBody" : [{"_value" : "Department for Transport"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/732561/answer", "answerText" : {"_value" : "
The original intention of the statutory minimum bus travel concession scheme was to provide access to essential local services and to help prevent social isolation. The scheme was introduced as an off-peak concession only, when there is likely to be unused capacity on buses.<\/p>
However, the Government recognises the importance of accessible transport for disabled people, and the Department continues to work with the Department for Work and Pensions and other Government Departments on this issue, as well as with local authorities and the transport sector.<\/p>
<\/p>
Local authorities have the powers of their own to offer concessions over and above the statutory minimum, including peak hour travel.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3991", "label" : {"_value" : "Biography information for Jesse Norman"} } , "answeringMemberConstituency" : {"_value" : "Hereford and South Herefordshire"} , "answeringMemberPrinted" : {"_value" : "Jesse Norman"} , "dateOfAnswer" : {"_value" : "2017-07-04", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2017-07-04T12:42:38.807Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "27"} , "answeringDeptShortName" : {"_value" : "Transport"} , "answeringDeptSortName" : {"_value" : "Transport"} , "date" : {"_value" : "2017-06-26", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Bus Services: Concessions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Transport, for what reason disabled people in receipt of a free bus pass are not permitted to use that pass before 9.30am between Monday to Friday; and what assessment he has made of the effect of that provision on the ability of disabled people to access employment.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/304", "label" : {"_value" : "Biography information for Mr Roger Godsiff"} } , "tablingMemberConstituency" : {"_value" : "Birmingham, Hall Green"} , "tablingMemberPrinted" : [{"_value" : "Mr Roger Godsiff"} ], "uin" : "1200"} , {"_about" : "http://data.parliament.uk/resources/348632", "AnsweringBody" : [{"_value" : "Ministry of Justice"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/348632/answer", "answerText" : {"_value" : "