The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

Chief Secretary (1987-1989)

Mr Major’s Written Parliamentary Answer on Personal Credit – 26 November 1987

Below is the text of Mr Major’s written Parliamentary Answer on Personal Credit on 26th November 1987.

Mr. Malcolm Bruce To ask the Chancellor of the Exchequer if he will make a statement on the growth in personal credit over the past year.

Mr. Major There is no evidence that consumer credit has been accelerating recently. Much of the increase in personal debt takes the form of lending for house purchase or home improvement.