Friday, Sep 01, 2006

More debt than the rest of Europe combined!

Credit Action: September Debt Statistics

At the end of July 2006 the total UK personal debt was 1,237bn. The growth rate increased to 10.5% for the previous 12 months which equates to an increase of 105bn. The average first-time buyer was paying 3.21 times their income to get a mortgage in June - the highest figure on record - and the average new mortgage for first time buyers has now reached 110,000.

Posted by uncle chris @ 12:37 PM (509 views)
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2 Comments

1. The Bald Man said...

This is the debt that has fuelled the economic miracle. We shall shortly be running out of fuel!

Friday, September 1, 2006 07:32PM Report Comment
 

2. Rentslave said...

In the last year:

growth in debt = 105bn

growth in economy = (approx) 28bn
(2.6% of 1.15trillion - UK GDP)
http://www.statistics.gov.uk/cci/nugget.asp?id=192
http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf

Can we get Gordon Brown to explain how this is sustainable?

Saturday, September 2, 2006 06:19PM Report Comment
 

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