Lord Stevenson of Balmacara – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Stevenson of Balmacara on 2016-01-21.

To ask Her Majesty’s Government whether they plan to take forward the consultation on the legal framework for debt administration proposed by the 2015 Farnish Review of the Money Advice Service, and if so, when.

Lord O’Neill of Gatley

The Government is committed to exploring whether some form of “breathing space” would be a useful and viable addition to the range of formal and informal debt solutions available to consumers and creditors. Officials in HM Treasury and the Insolvency Service have been asked to discuss this issue with stakeholders with a view to identifying possible options and have begun work on this review.