bpw Report post Posted June 5, 2006 Quote: Finally, according to the Bank of England, personal debt (including mortgages) stood at £1,191 billion at the end of April, and it's rising by over £100 billion a year, or £276 million per day http://www.housepricecrash.co.uk/forum/ind...showtopic=31167 I read this and my first thought was to determine how the distribution of debt with age has changed over the past two decades. Understanding this is the key to understanding why government seems loath to increase interest rates. Their argument that low rates are needed to support businesses is either a lie, or, a distortion of the truth, simply look at the effect of 5% rates here in the in the USA where first quarter growth has been tremendous. Protecting base rates is all about protecting the housing market at the expense of FTBs or those moving up the chain. Thus far I can only find some Australian data at the URL below: http://www.rba.gov.au/PublicationsAndResea...3/bu_0303_1.pdf Can others post this data for the UK (searching ONS was not a success) Quote Share this post Link to post Share on other sites
