Question to the HM Treasury:

What assessment he has made of the change in the level of personal debt in the last 12 months.

The Government is committed to understand the impact of COVID-19 on personal debt levels and to help people access the support they need to get their finances back on track.

The Government works closely with the Money and Pensions Service (MaPS) to monitor financial difficulty through an annual survey and notes the Financial Conduct Authority’s biennial Financial Lives Survey.

The latest findings from the Financial Lives Survey were published in February 2021. The findings include the impact of Covid-19 on people’s finances.