Debts

HM Treasury written question – answered on 19th January 2018.

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Photo of Peter Dowd Peter Dowd Shadow Chief Secretary to the Treasury

To ask Mr Chancellor of the Exchequer, what estimate he has made of changes in the level of average household debt in each of the last three years.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The level of household debt to income was 136.4% in 2014, 133.0% in 2015 and 136.6% in 2016, the most recent years for which annual data is available. This compares to 152.1% at the start of 2010.

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.

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