Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure that unsecured debt remains at a sustainable level.

The Financial Conduct Authority (FCA) has been given strong powers to take action and legislated to cap the cost of payday loans, helping reduce the number of pay-day loans from 4.2 million in the first half of 2014 to 1.8 million a year later.

The Financial Policy Committee’s most recent assessment shows how it intends to monitor and mitigate these risks in its June 2017 Financial Stability Report.