Public inquiry needed into UK’s £200bn debt crisis, say senior MPs

Select committee chairs join leading figures voicing concern over impact of debt on households already facing squeeze

The chairs of two powerful parliamentary committees have urged the government to set up an independent public inquiry into the £200bn of credit amassed by households, as Britain’s debt crisis raises alarm among senior MPs.

The call by Rachel Reeves, the Labour chair of the business select committee, and Frank Field, the Labour head of the work and pensions select committee, comes as the Conservative-led Treasury select committee plans to hold meetings around the country to examine the impact of debt on individuals and households.

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