Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential benefits of introducing a national no-interest loans scheme to support households facing financial shocks.

The Government recognises that access to affordable credit can help households manage financial shocks. A Government-funded No Interest Loan Scheme (NILS) pilot ran from November 2022 to March 2026, delivered by Fair4All Finance and its partners across England, Scotland and Wales. It was designed to assess how effectively interest-free loans meet the needs of consumers in vulnerable circumstances. PwC has been appointed to evaluate the pilot.