Question to the HM Treasury:

To ask Her Majesty’s Government whether they plan to address United Kingdom household debt and to make domestic finances more sustainable.

The personal financial position of households is improving. Household debt as a proportion of income has fallen from a peak of 169 per cent in 2008 Q1 to 146 per cent in 2014 Q4, as households have reduced borrowing and repaid debt. The government has introduced a number of measures to support domestic finances including the New ISA, abolishing the starting rate of tax on savings income, NS&I pensioner bonds and now the Help to Buy ISA.