Credit card and overdraft debt to rise by £5k a household by 2028, analysis shows

Rise in unsecured debt which includes car loans and unpaid utility bills shows fragility of national economic health, Labour says

Borrowing on the likes of credit cards and overdrafts will rise by £5,000 a household in the next five years, according to Labour analysis that the party says shows the fragility of national economic health.

Analysis of statistics in the November economic outlook produced by the government’s Office for Budget Responsibility shows that unsecured debt, also covering many car loans, is forecast to rise £154bn by 2028, the party said.

Continue reading...

from The Guardian https://ift.tt/LDMUtJa
via