Baroness Coussins
Main Page: Baroness Coussins (Crossbench - Life peer)
Baroness Wilcox
My Lords, we can thank the Labour Government for allowing public borrowing to spiral out of control. This Government are facing some very difficult decisions in order to bring us back into line. No one likes the idea of putting our people in debt any more than they absolutely have to be. The noble Lord can be assured that we are looking at every possible way to stop interest rates spiralling out of control, otherwise we will find ourselves exactly where the Labour Government found themselves: out of control.
Baroness Coussins
My Lords, in the light of the OBR’s forecast on household debt, which it states will have increased substantially by 2015, how will the Government ensure that debt advice which is both free and independent continues to be accessible to the people who most need it? I declare an interest as president of the Money Advice Trust.
Baroness Wilcox
On 12 February, the Government announced continued funding of £27 million this year to maintain the service for debt advice in citizens advice bureaux and other independent advice agencies in England and Wales. We are working to put the future provision of debt advice on to a more sustainable footing, ensuring that consumers can access the support they need easily, and that the debt-advice services deliver the best possible value for money. Good advice is worth every penny we can possibly spend on it.