HOUSEHOLD DEBT REACHES CRISIS LEVELS

The Covid19 pandemic has seen a huge increase in the number of households struggling to keep up with bills, with many falling into severe debt. The Chief Executive of the debt charity StepChange has called for a long-term vision for those affected by the pandemic, to avoid lasting social and economic damage that will deepen already extreme inequalities and hamper economic recovery.

I therefore asked the Leader of the House, Jacob Rees-Mogg, to set out the Government’s long-term plan to tackle this issue

Unmanageable debt ruins lives and will be a real drag on any economic recovery and will serve to increase inequality. We need a vision and plan on how the UK Government will deal with this huge societal challenge, given that millions of households are languishing under a mountain of debt.

You can watch the exchange below.