division_name: Personal Indebtedness and Savings
motion: <p class="" pid=".607.2/1" pwmotiontext="yes">I beg to move,</p>
  
  <p class="indent" pid=".607.2/2" pwmotiontext="yes">That this House notes that household indebtedness has now reached &#163;1 trillion; is concerned that the household savings rate has halved since 1997; and believes that the Government, through the extension of dependency on means-tested benefits in retirement, its attack on the tax advantages of savings vehicles, and its &#163;5 billion a year raid on pension funds, has diminished incentives to save.</p>
  
  <p class="" pid=".619.1/1" pwmotiontext="yes">I beg to move, To leave out from "House" to the end of the Question, and to add instead thereof:</p>
  
  <p class="indent" pid=".619.1/2" pwmotiontext="yes">"believes that a strong and stable economy is the foundation of families' confidence in their own finances; notes that economic stability has delivered low and stable inflation, interest rates have been at their lowest since the 1950s, employment is at a record high and unemployment at its lowest since the 1970s; further notes that as a result households are better able to judge their long-term commitments as macroeconomic stability has reduced the risks to household finances of sudden and sharp rises in interest rates as seen in the past; believes that the Government has tackled the scandals it inherited and created a world leading system of financial regulation allowing people to save with confidence, simplified savings markets allowing people to make informed choices about what and how to save and taken action to tackle financial exclusion; recognises that most household debt remains affordable and that total interest payments are now 7.6 per cent. of disposal income compared with 15 per cent. in 1990; believes the biggest risk to household finances and consumer confidence would be a return to economic instability; and rejects the short-term boom and bust economic policies of the past that saw interest rates hit 15 per cent. and inflation hit 10 per cent. in which circumstances households had to save more to make up for the loss of value of their savings due to inflation and prepare in the event of becoming unemployed."</p>
  
  <p pid=".650.3/1" pwmotiontext="yes">Question put accordingly, That the original words stand part of the Question:&#8212;</p>
  
  <p pid=".650.3/2" pwmotiontext="yes">The House divided: Ayes 165, Noes 269.</p>