Lord Beecham – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Beecham on 2015-12-01.

To ask Her Majesty’s Government, in the light of the latest Bank of England figures showing elevated levels of personal indebtedness, what assessment they have made of what is an acceptable and safe level of such borrowing.

Lord O’Neill of Gatley

Household debt as a proportion of income has fallen to 144 per cent in Q2 2015, from a peak of 168 per cent in Q1 2008. To avoid repeating the mistakes of the past we have created the independent Financial Policy Committee (FPC) within the Bank of England, to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed.