Treasury

Tuesday 9th October 2018 Ministerial Corrections

Household Debt

The following is an extract from Treasury Questions on 11 September 2018.

[Sir Vince Cable (Twickenham) (LD)]

British families are currently spending considerably more than their disposable income and, as a consequence, debt levels in relation to income are rising back to crisis levels. At the same time, France and Germany have big savings surpluses. Which is the most sustainable of the two options?

[John Glen]

What is sustainable is that real household disposable income is up by 4.6% since 2010. I acknowledge that there are those who are experiencing challenges, and that is why I have set out the measures the Government are taking and are determined to take to assist those in a vulnerable position.

[Official Report, 11 September 2018, Vol. 646, c. 586.]

Letter of correction from the Economic Secretary to the Treasury, the hon. Member for Salisbury (John Glen):

An error has been identified in the response I gave to the right hon. Member for Twickenham (Sir Vince Cable).

The correct response should have been:

[John Glen]

What is sustainable is that real household disposable income is up by 3.4% since 2010. I acknowledge that there are those who are experiencing challenges, and that is why I have set out the measures the Government are taking and are determined to take to assist those in a vulnerable position.