Debts: Coventry

(asked on 25th October 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent estimate his Department has made of the level of household debt in (a) Coventry North East constituency and (b) Coventry in each of the last two years.


Answered by
Andrew Griffith Portrait
Andrew Griffith
Minister of State (Department for Science, Innovation and Technology)
This question was answered on 28th October 2022

The Government monitors problem debt levels regularly by working closely with the Money and Pensions Service (MaPS) and the Financial Conduct Authority (FCA), and by engaging with the debt advice sector and other relevant stakeholders on their research and findings.

The FCA conducts a biennial Financial Lives Survey which provides a comprehensive insight into the finances of the UK population. The latest ‘snapshot’ findings from their survey were published on 21 October 2022 and can be found in the link below:

https://www.fca.org.uk/data/financial-lives-2022-early-survey-insights-vulnerability-financial-resilience

MaPS monitors financial difficulty through an annual survey of 22,000 individuals. MaPS published its latest data on 23 February 2022, which can be found in the link below:

Who needs debt advice in 2022? | The Money and Pensions Service (maps.org.uk)

This includes a regional breakdown of how the need for debt advice has changed since 2019 across the UK.

MaPS is investigating the production of constituency level data and hopes to be able to publish this by the end of this year.

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