Britain sinking deeper into debt
Industry News | 03/12/19
• Ultra-low interest rates are not feeding through to individual consumers.
• Since 2009, credit card lending now 40% higher and household non-mortgage debt up 52.6%.
• Average adult pays nearly £1000 a year in interest as retailers increasingly use buy now, pay later.
• 40% of working age people have under £100 in savings and are vulnerable to any economic weakness.
• Should Regulators curb unsecured borrowing at high rates given indications that we may be repeating mistakes that caused the financial crisis?
Source: Pensions & Savings
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