Demanding Action on “Rip-Off” Insurance Interest Rates

I joined a cross-party coalition of over 70 MPs calling on the Financial Conduct Authority to tackle excessive interest rates charged to people paying monthly for car, home, and pet insurance. With some insurers applying APRs over 45%—far higher than HMRC’s 8.5% late payment rate—I warned that lower-income families in Redditch and the Villages are being unfairly penalised. Backed by Which?, the letter urges urgent reform.

These are stealth taxes on the poorest. I’ll keep fighting to end unfair costs and secure financial justice for hardworking people in our community.