Interest-free loans unlikely as it would 'burden people with debt repayments'

The Treasury Minister says he doesn't want to issue interest-free loans to help people tackle the cost of living crisis because it would burden them with debt repayments.

In the House of Keys this week, Dr Alex Allinson faced questions from Onchan MHK Rob Callister about a loan scheme.

He wanted to know if the Treasury had considered introducing the low-cost loans as people struggle to make ends meet in the face of rising inflation.

Dr Allinson said Treasury was considering how best to help people, but added he didn't want them to struggle further by forcing them to repay loans.