Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the matter of problem debt.

The Government is committed to promoting financial resilience, to minimising financial hardship, to tackling financial exclusion and to helping consumers who fall into problem debt to return to a stable financial footing.

The Government works closely with the Money and Pensions Service (MaPS) to monitor personal finances. MaPS monitor levels of problem debt through an annual survey of 22,000 people. The latest data will be published in due course.

The Government also notes the Financial Conduct Authority’s biennial Financial Lives Survey, which provides a comprehensive insight into the finances of 16,000 adults. The latest survey concluded in February and will be published in early 2021.