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Debts

Volume 482: debated on Tuesday 11 November 2008

To ask the Minister of State, Department for Business, Enterprise and Regulatory -Reform when the Ministerial Group on over indebtedness last met; when the next meeting will be held; and if he will make a statement. (233110)

The Government take the issue of over-indebtedness extremely seriously. Ministerial discussions of credit and debt issues are taking place in many forums such as the National Economic Council and the cross-Government work on the housing market, including the mortgage rescue scheme.

The Ministerial Group on over-indebtedness agreed the Government's strategy on over-indebtedness in 2004. It provides direction and approval of the Government's annual report, ‘Tackling Over-indebtedness’, that has been issued since 2005. The group has found it effective to conduct its business by paper rather than physically meeting.