Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the number of people in Redditch using credit to pay for essential household bills.

The Government recognises that, where household finances are stretched, some people may use credit to cover essential costs. That is why the Government has taken action to ease pressure on household finances, including by taking £150 off energy bills this year, freezing NHS prescription charges, raising the National Living Wage, and removing the two-child limit in Universal Credit. As part of the Financial Inclusion Strategy, the Government has also encouraged lenders to integrate income maximisation tools into customer journeys which can help consumers check the benefits for which they are eligible.

More broadly, the Government is acting to reduce everyday costs and bear down on prices. This includes extending the £3 national bus fare cap until at least March 2027, making bus travel across England free for children aged 5 to 15 throughout August, suspending tariffs on a range of agri-food products, and equipping the Competition and Markets Authority and other regulators with stronger powers to tackle price gouging where it occurs.