Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with representatives of (a) banks and (b) other lenders on extending payment holidays for loans in line with the term of the Coronavirus Job Retention Scheme during the covid-19 outbreak.
In April, the Financial Conduct Authority (FCA) announced a series of measures intended to provide temporary support to consumers that have been affected by the coronavirus outbreak, including a three-month payment holiday on personal loans. Ministers recognise the important role payment holidays play in supporting people through this period and have engaged with lenders throughout. The government will continue to work closely with the FCA and industry on the next steps for payment holidays.