Question to the HM Treasury:

To ask Her Majesty’s Government, further to the Written Answer by Lord Deighton on 10 February (HL4482), what assessment they have made of what is an acceptable and safe level of borrowing for (1) individuals and households, (2) non-financial corporations, and (3) financial institutions.

The government does not have an explicit target for household or corporate borrowing. The government is adamant not to repeat the mistakes of the past, which is why it created the independent Financial Policy Committee (FPC) within the Bank of England to ensure that emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed.