Osborne’s recovery is built on a growing mountain of debt
The average UK household is set to owe close to £10,000 in unsecured debt by the end of 2016
The average UK household is set to owe close to £10,000 in unsecured debt by the end of 2016
There has been a sharp rise in household debt among young people and low-income families
The cost to society for problem debt is £8.3bn, and this government will only make things worse
The spike in personal debt is a reminder the economy is built on the indebtedness of large swathes of the population
There are concerns that a surge in optimism about the British economy is leading people to take out more loans than they can truly afford
By 2019 total UK household debt will be 182 per cent of household income
Consumption-driven growth is a recovery built on sand.