Still recovering from the last crisis? Hold on to your wallet, Britain’s bankers are storing up another one. The Financial Conduct Authority has urged the government to tackle the explosion in consumer debt, now standing at £200 billion.
When even the fat cats are saying it, you can be sure the problem is serious. MPs have also highlighted the extent of the crisis, demanding an inquiry.
Nominal consumer debt has risen 24% in five years, increasing by a staggering 10% last year. At the same time, mortgage debt has increased by 10% and student debt has risen by 114%, now at over £100 billion, due to the increase in tuition fees.
Esta historia es de la edición Issue 963, 21-27 September 2017 de The Socialist.
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Esta historia es de la edición Issue 963, 21-27 September 2017 de The Socialist.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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