Levels of debt in London

Meeting: 
MQT on 2012-09-19
Session date: 
September 19, 2012
Reference: 
2012/2634
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Is the Mayor aware that Londoners have the highest levels of debt of any government region in the UK? What is the Mayor doing to support the development of credit unions or other measures and to stop families being forced to resort to high cost lenders, loan sharks and credit cards?

Answer

Answer for Levels of debt in London

Answer for Levels of debt in London

Answered By: 
The Mayor

As stated previously in my response to MQ 72/ 2012, since 2009, I have supported, and continue to support, the work of the London Debt Strategy Group and Capitalise, which was instrumental in the development of the website www.londonmoney.org.uk which provides details of credit unions and sources of ethical finance across the capital.