“Just look at the last seven [years of Conservative government]... more young people in debt.”
- Nearly a third of people in Great Britain aged 16 to 24 have financial debts. A similar proportion of those aged 16-34 live in households with more debts than assets.
- Those aged 16 to 24 have the highest level of debt compared with their income. Of those in debt, half report debts of 40% or more of their annual income.
- The proportion of people aged 16 to 24 who have financial debts fell slightly from 35% in 2010-12 to 32% in 2012-14—the latest figures available.
- The average debt for 16-24 year olds rose in the late noughties, but fell between 2010-12 and 2012-14.
- Mr Corbyn may have been referring to the highest value category of debt, student loans—which more young people are taking on, according to the Student Loans Company.
- At the end of the 2015-16 financial year there were 5 million people with government student loans; of these, 2.9 million had loans liable for repayment. That’s an increase of 28% and 27% respectively compared with 2012-13.
This factcheck is part of a roundup of Labour party manifesto launch,. Read the roundup.
With Brexit fast approaching, reliable information is crucial.
If you’re here, you probably care about honesty. You’d like to see our politicians get their facts straight, back up what they say with evidence, and correct their mistakes. You know that reliable information matters.
There isn’t long to go until our scheduled departure from the EU and the House of Commons is divided. We need someone exactly like you to help us call out those who mislead the public—whatever their office, party, or stance on Brexit.
Will you take a stand for honesty in politics?