Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent estimate his Department has made of the average level of personal debt.

Since 2007, UK households have reduced debt relative to income by the second largest amount in the G7. The household debt-to-income ratio was 144% in Q3 2016, down from a high of 160% in Q1 2008. Almost three quarters of household debt is secured against housing. Unsecured debt as a share of household income is now 40% (Q3 2016), down from its peak of 44% before the financial crisis (Q1 2007).