PwC uncovers debt concerns
Borrowing on credit cards and through unsecured loans climbed by six per cent over the year to September, PricewaterhouseCoopers (PwC) has said.According to the accountancy firm, many Britons are also concerned about their ability to pay off debt.The new PwC report showed that around one in four are worried about their future debt repayments - while 16 per cent are facing problems with the payments at the moment.Of the group concerned about debt, 14 per cent were still planning to use unsecured credit to partially or wholly fund their Christmas costs."The survey shows that some people are still prepared to borrow despite the tough market conditions, rising unemployment, a depleted housing market and the increasing sense that they will be unable to repay debt in the future," Richard Thompson at PwC told the BBC."This clearly spells tough times for both consumers and credit companies alike."
Share this..
Related stories
House prices "bounce back"
UK house prices "bounced back" in June after climbing by 1.1 per cent, Nationwide revealed today.The latest property price survey by the building society showed the annual rate of house price inflation reached 11.1 per cent this month, its highest level since January 2005.Nationwide said that the annual rate of growth was more than twice as fast as that recorded at the same time last year, with pr...
Read MoreUK inflation rate drops to 0%
14/07/2015 The UK inflation rate dropped to 0% in June, down from 0.1% in May, due to a fall in clothing and food prices, as well as a slight reduction in air travel. The 0% Consumer Price Index (CPI) figure sees the UK hover just above falling into deflation, as prices remain unchanged from the same month last year, according to the Office of National Statistics (ONS). The drop in food, clo...
Read MoreG20 - all talk but no action?
Yet again we have another G20 meeting and yet more promise of multitrillion pound investment packages which will save the world. However, why is it that after the event more and more G20 members seem to have second thoughts about their promises and often backtrack?
It seems that a G20 conference is one of those moments when your friend asks you for money and you say yes, only to ret...
Gordon Brown calls on Bank of England to reduce base rates yet further
Gordon Brown has put himself in the rather awkward situation of seemingly trying to dictate the monetary policy of the Bank of England with a call for further UK base rate cuts in a speech in America. This is the first time for many years we have seen a UK prime minister openly call for the Bank of England, which is supposed to be independent from the government of the day, suggesting that base ra...
Read MoreIs The UK In Recession?
While officially speaking the UK is not in recession, in reality the economy continues to nose dive with disastrous consequences. News today has shown that not only are house prices under severe pressure but there is evidence of panic selling with sellers lowering their prices in order to try and force through a sale - never mind a quick sale!
News that just 14% of surveys are actu...