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Household Debt

Volume 403: debated on Monday 10 March 2003

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To ask the Chancellor of the Exchequer what steps he is taking to reduce the level of household debt as a percentage of disposable income in the UK. [101053]

Within a sound financial framework, the Government believe that households are best placed to decide on the level of debt that they should hold. Growth in household debt reflects strong fundamentals with a robust labour market, low interest rates and strong gains in housing wealth.