Julian Rose

Pls DON'T let this be true. It reports @hmtreasury plans to shelve much needed, called for & worked on plans (by @WhichUK, @TheFCA, @CitizensAdvice & til now govt itself) to regulate Buy Now Pay Later Why'd it not regulate the UKs fasted growing form of debt, with billions lent? Yes, BNPL used right can help people borrow interest free to spread necessary costs, but it's still a debt. Protection's needed for when it's not right. Regulation doesn't curtail the industry, it'd just means that for both existing firms & new entrants: - Fairness rules apply like with other debt - If treated badly you can go to @financialombuds - Firms must be honest that this is borrowing not market it as a lifestyle choice I'd urge @Jeremy_Hunt to continue with the plans, which we were promised years ago, and have huge support amongst consumer groups (and some BNPL firms) and ensure it's fully regulated like the debt it is. news.sky.com/story/treasury…