Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will introduce legislation to enshrine the UN Conference on Trade and Development principles on responsible lending and borrowing in UK law.

The Government recognises the need for debt sustainability, and for effective debt restructuring processes where a country can no longer repay its debts. The UK engages in discussions on debt internationally and agreed to principles on debt sustainability at the G20 earlier this year. We are also committed to apply the OECD sustainable lending principles domestically. However, the Government isn’t currently planning to introduce legislation related to UN Conference on Trade and Development principles on responsible lending and borrowing.