PARLIAMENTARY WRITTEN QUESTION
Debts (12 July 2017)
Question Asked
To ask Mr Chancellor of the Exchequer, what the level of personal debt is; and if he will make a statement.
Asked by:
Jonathan Reynolds (Labour)
Asked by:
Jonathan Reynolds (Labour)
Answer
Based on data from the Office of National Statistics, household debt-to-income ratio was 145% in Q1 2017. This is notably below the pre-crisis high of 160% in Q1 2008.
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.
Answered by:
Steve Barclay (Conservative)
20 July 2017
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