News Tag: levels
April 6, 2009
The latest figures from the Institute for Fiscal Studies (IFS) shows that the UK will need to raise an extra £39 billion a year for the next five years if the Government is going to balance the books by 2015.
This would mean that if the money was to be raised solely through an increase in taxation then the average household ...
UK public sector debt at record levels
by Peter Charalambous
December 1, 2008
Since the tightening of lending criteria has been adopted by banks, mortgages and credit have been hard to come by and a recent survey conducted by PricewaterhouseCoopers (PwC) revealed that 20% of UK credit customers are worried about the future availability of credit.
The survey was carried out by PwC as part of ‘Precious Plastic’, its annual commentary on ...
Consumers struggling to repay debts as credit dries up
by Kay Murchie
August 22, 2008
Research from accountants Grant Thornton has revealed that the total amount owed by consumers through mortgages, loans and credit cards increased by 7.3% during the six months to 30 June to stand at £1.444 trillion.
However, during the same six-month period, Gross Domestic Product (GDP) only rose by 5.1% in nominal terms to £1.41 trillion, meaning personal debt exceeds the income generated ...
UK debt exceeds £1 trillion
by Kay Murchie
