Debt in Britain is spiralling out of control, a politician has suggested.
Sandra Gidley, Liberal Democrats MP for Romsey, told the Commons household debt had grown by 170 per cent since 1997.
Ms Gidley presented the Personal Debt (Advice and Regulation) Bill to parliament last month, arguing for a nationwide network of personal advice centres as part of a solution to tackle debt, the Basingstoke Gazette reports.
Other suggestions include money management education provided in schools and clamping down on irresponsible lenders.
"Debt has always been a problem for some but we live in an increasingly materialistic society and this is fuelling a growing debt crisis," said in the Commons.
She told the Basingstoke Gazette Britain’s debt has reached "crisis point".
"From unsecured loans, to soaring overdrafts, university fees and credit card bills, we are churning out generations of young people burdened with debt," Ms Gidley said.
Money problems are hitting Hampshire hard, according to the politician, with 3,671 cases of home repossession in the area last year.
Credit Action statistics show that the average UK adult owes £29,747.