A new report from Fair4All Finance argues there has been a severe decline in the availability of credit for lower income households, and that we should consider "regulatory adjustments" to address it. In our response, we argue that there is little evidence of a 'credit vacuum' and that now is not the time to embolden high-cost lenders who are trying to roll back the regulatory clock.

Even before the Covid 19 pandemic 7.2 million people (fourteen percent of the population) were heavily burdened by debt. It’s time to write down the debt.