As many as 3.2 million households, and more than 7 million people may be struggling with problem levels of debt, according to a new Centre for Responsible Credit study we commissioned with Unison. A large number of those households face debt levels that they may never clear. This debt leaves them…Read more…
The post-crisis consumer debt boom is less explosive, but even more unaffordable
It is well known that economic growth has still been excessively reliant on households, even in spite of the unprecedented falls in real earnings of recent years. Today the TUC publishes analysis that shows just how heavy pressures on some households have become. The ‘Britain in the Red’ report, by…Read more…
Debt remains a bigger burden for the lowest paid
On Monday, the ONS released the latest instalment of their data on household debt inequalities between July 2012 and June 2014. The data indicates that the absolute and relative burden still falls disproportionately heavily on the lowest paid. For instance: “Twice as many individuals living in…Read more…