This year, household debt is set to be higher than ever before. TUC analysis finds that unsecured debt per household is set to reach £13,900 in 2017. In 2016, unsecured debt per household was already £13,200 – higher than at any other point since the financial crisis and only marginally below…Read more…
Household debt is higher than in 2008, is history repeating?
The latest TUC figures on household debt show that consumer credit is still filling the gap left by anaemic wage growth. Data from the Bank of England shows that total consumer credit (that is excluding both mortgages and student loans) grew by 10.8% in November 2016 compared with a year before….Read more…
Standstill wages mean over a million low-income families struggle with extreme debt
Today saw the publication of our (The Centre for Responsible Credit) final report from the joint TUC and Unison commissioned ‘Britain in the Red’ project. The project has been looking at available aggregate and household survey data to track the extent of household over-indebtedness: particularly…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…
Britain in the red: Households with problem debt up by more than a quarter since 2012
Today saw the first release of findings by the Centre for Responsible Credit (CfRC) from the joint TUC and Unison commissioned ‘Britain in the Red’ project. The project is looking at available aggregate and household survey data to track the extent of household over-indebtedness: assessing the…Read more…