A NEWPORT MP has called for a House of Commons debate on a sector that "may leave many in debt".
Jessica Morden, Labour MP for Newport East, has called for a debate on the "fast growth of the buy now, pay later" sector.
During business questions, she said: “These firms are targeting predominantly the under-30s who are shopping online in the run-up to Christmas with what is an explosive form of credit that may leave many in debt.”
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Commons Leader Jacob Rees-Mogg replied: “Whenever new forms of credit come along they often produce risks that people aren’t aware of until some time has passed, at which point it’s too late to do anything.
“So, I think looking at these things early on is important.
"I think from the Government’s point of view we had better wait for the Treasury Select Committee’s report and to see what it recommends in this direction.”
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