Amendment of the Law

Part of the debate – in the House of Commons at 3:58 pm on 8th March 2017.

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Photo of Rob Marris Rob Marris Labour, Wolverhampton South West 3:58 pm, 8th March 2017

As the hon. Gentleman may be aware, according to the Library briefing paper, an OECD working paper in 2012 found that

“when household debt levels rise above trend the likelihood of a recession increases.”

The International Monetary Fund found that recessions preceded by large increases in household debt were “more severe and protracted.” There are real dangers here.