Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has considered the potential merits of a Jubilee Fund as proposed by the Reset the Debt campaign.

The Government has delivered unprecedented support for living standards during this challenging time, protecting livelihoods with the Self-Employment Income Support Scheme, the Coronavirus Job Retention Scheme, and temporary welfare measures

We have also worked with mortgage lenders, credit providers and the Financial Conduct Authority to ensure the financial sector provides support for people across the UK to manage their finances by providing payment holidays on mortgages and consumer credit products

The Government has also provided unprecedented support for businesses impacted by the COVID-19 pandemic. This support includes the Coronavirus Business Interruption Scheme, Coronavirus Large Business Interruption Scheme, Bounce Back Loan Scheme and the Future Fund which, as of 15 November, have collectively supported over 1.4 million businesses with facilities worth in excess of £65bn. The Chancellor has announced that the Government has extended the application deadline for these schemes to a single date, 31 January 2020, meaning that even more businesses will have access to financial support.

The Government recognises that some people are struggling with their finances at this challenging time. We must be fair to people who pay their bills on time by taking a proportional approach to those who do not. A Jubilee fund to provide grants to write-off debts accrued as a result of Covid-19 would not deliver this fairness

To help people in problem debt get their finances back on track, an extra £37.8 million support package is being made available to debt advice providers this financial year, bringing this year's budget for free debt advice in England to over £100 million

From May 2021 the Breathing Space scheme will offer people in problem debt a pause of up to 60 days on most enforcement action, interest, fees and charges, and will encourage them to seek professional debt advice