Borrowing and saving levels fall
8 June 2010
According to unbiased.co.uk, savings fell drastically in mid-2008, from around £39bn per quarter to £20bn, and they haven`t made a full recovery since - with the latest figures showing people are now saving just over £16bn, headlinemoney.co.uk reports.... read more »
Osborne plans to `emulate Canada` to tackle UK debt
7 June 2010
The Chancellor, George Osborne, will announce plans to `eradicate` Britain`s budget deficit and tackle the national debt by `emulating` Canada, where borrowing was curbed in just three years following spending cuts of 20%, the Telegraph reports.... read more »
Student debt to rise?
4 June 2010
The amount of debt which students take on at University will rise if recent recommendations are put into action.... read more »
More consumer debt repaid than taken on in April
3 June 2010
Net consumer credit fell in April, as consumers repaid more debt than they took on - for the first time since last November.... read more »
Borrowers to benefit from debt repayment change
3 June 2010
MBNA, one of the country`s largest credit card issuers, has announced it will change the way debt repayments are `allocated` to borrowers` credit cards from 1st September this year - several months before the voluntary end-of-year compliance deadline agreed by the card industry, the Guardian reports.... read more »
Number of middle class people in unmanageable debt soars
2 June 2010
Research by credit agency Experian has found that the number of `middle class` people declared insolvent because they were struggling with unmanageable debts soared during 2009, the Telegraph reports.... read more »
86% `reviewing savings while rates are low`
1 June 2010
86% of savers feel that low interest rates make it more important for them to review their savings, according to Fairinvestment.co.uk.... read more »
5 million Britons `taking on debt to pay bills`
28 May 2010
Almost 5 million British cardholders use credit cards to pay their bills on a regular basis, research from Moneysupermarket.com has found.... read more »
Household debt `passed 120% of disposable income`
27 May 2010
Household debt had reached more than 120% of disposable income in Britain, Canada, the US and Japan by the time the economic crisis began in 2008, according to the OECD (Organisation for Economic Co-operation and Development).... read more »
BBA: households concentrate on paying off debts
27 May 2010
According to figures from the British Bankers` Association, mortgage approvals remained relatively unchanged in April, as households concentrated on paying off debts, the BBC reports.... read more »
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