After several years of discussion, Minister Solveig Horne wants to speed up the process of creating a debt register. She wants to have it in place next year.
Children and Equality Minister is worried that young adults aged 18-25 years have over a billion kroner in debt collection debt in total, the newspaper Dagens Næringsliv writes.
– We live in a welfare and consumer society. It has never been easier to purchase products and services online than it is now. Especially for young people who want the latest handbag that bloggers have got or the latest mobile phone, she adds. The increase in consumer debt among young people also worries the minister.
– Young people haven’t got enough knowledge about personal finances and do not know that consumer loans and credit card debt is expensive debt. It is important for me that young people actually learn early om, so that they can become good consumers and good customers. Very many people are in a far tougher situation financially for large parts of adulthood than they would otherwise have been, because they have to spend many years on paying off debts which they raised or obtained when they were younger, she adds.
Horne says the government’s proposal for a debt register will be sent out for consultation in the autumn and that the issue will be discussed in Parliament in the spring. She hopes a debt registry will be in place in the autumn of 2017.
The opposition has previously criticized the government for working too slowly to create debt register.
Source: NTB scanpix / Norway Today