Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what estimate he has made of the levels of household debt in the (a) Borough of Rochdale and (b) UK in the last 12 months.

The latest data shows median household financial debt in the North West is the second lowest of any English region.

In the UK as a whole, household debt-to-income has increased marginally from 141% 12 months ago to 145% in Q1 2017. This remains significantly below the pre-crisis peak of 160% in Q1 2008.

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.