Some people have contacted me, using a standardised campaign template, about families in debt.

The Families with Children and Young People in Debt (Respite) Bill, introduced by Kelly Tolhurst MP, would place a duty on lenders to provide financial respite for families with children and young people in debt.

The Government has already taken some action to reduce levels of personal debt. Household debt as a proportion of income has fallen to 142 per cent in 2016, down from a peak of 160 per cent in 2008. The Government's plan for a higher wage, lower welfare society makes it easier for families and working people to save, and the new National Living Wage will mean a pay boost for 1.7 million workers this year.

However, I am pleased that the Government is also committed to exploring whether some form of 'breathing space' would be a useful and viable addition to the range of debt solutions. HM Treasury and the Insolvency Service have been asked to explore and identify possible options and have begun work on a review, which I will be interested to read when it is published.

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