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UK: Poor live on debt money now
  • Vitaliy_KiselevVitaliy_Kiselev

    The ONS said households took out nearly £80bn in loans in 2017, the most in a decade. But they deposited just £37bn with UK banks, the least since 2011. Households accumulated more debt than they acquired in assets even when their investments in bonds, shares and pensions were included.

    According to ONS figures, the poorest 10% of households spent two and a half times their disposable income, on average, in the financial year ending 2017 – while the richest 10% spent less than half of their available income during the same period.

    https://www.theguardian.com/money/2018/jul/26/household-debt-in-uk-worse-than-at-any-time-on-record

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