Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an estimate of the number of (a) customers using buy now pay later products, (b) buy now pay later loans taken out and (c) the number of defaults for buy now pay later (i) products and (ii) loans, between January and June 2023 broken down by month.

HM Treasury regularly monitors changes in the consumer credit market as part of its normal process of policy development.

However, it does not hold precise information on the number of customers using Buy-Now Pay-Later (BNPL) products, the number of BNPL agreements taken out, and the number of defaults on those agreements between January and June 2023. Instead, HM Treasury draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.