Debt Trap

Meeting: 
MQT on 2014-06-11
Session date: 
June 11, 2014
Reference: 
2014/2248
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Have you read the 'The Debt Trap', a report from The Children's Society and StepChange Debt Charity which highlights that a shocking 2.4m children are living in families with problem debt totalling almost 5bn, and will you be looking into its recommendations?

Answer

Answer for Debt Trap

Answer for Debt Trap

Answered By: 
The Mayor

Thank you for bringing this report to my attention. I want to see Londoners have access to affordable credit when they need it, and to avoid unmanageable debt problems. Financial literacy and liveable wages must play a big part in this.