Debts

Treasury written question – answered on 10th September 2018.

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Photo of Ged Killen Ged Killen Labour/Co-operative, Rutherglen and Hamilton West

To ask the Chancellor of the Exchequer, what recent estimate he has made of the (a) average level and (b) total value of personal debt in the UK.

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

The household debt-to-income ratio was 140% in Q1 2018, significantly below its pre-crisis high of 160% in Q1 2008.

The independent Financial Policy Committee 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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