PARLIAMENTARY WRITTEN QUESTION
Debts (26 June 2017)
Question Asked
To ask Mr Chancellor of the Exchequer, what estimate he has made of changes in the level of household debt over the last two years.
Asked by:
Rachael Maskell (Labour)
Asked by:
Rachael Maskell (Labour)
Answer
The independent Financial Policy Committee (FPC) was set up by the government to assess and mitigate financial stability risks, including from household debt. The FPC has taken action to ensure against a significant rise in highly indebted households.
Household debt-to-income has increased marginally from 141% two years ago to 145% in Q1 2017. This remains significantly below its pre-crisis peak of 160% in Q1 2008.
Answered by:
Steve Barclay (Conservative)
4 July 2017
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