The report states that, with ‘effective steps’, the government could save £3bn; currently, the strain on the economy is £8.3bn.

The debt in question is ‘problem debt’ – debt which people have created via loan but who do not have the resources to repay.

This both requires debt management services to help people overcome their debt; and housing, employment and mental health benefits in the meantime.

Those with problem debt require a system of benefits for the government, as well as investment from charities like StepChange to get them into work, and support them during that time. NHS mental health treatment and legal fees were also taken into consideration.

Approximately 2.9m people are estimated to have some type of problem debt, and who this require assistance from the government.