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Michael Bird, City AM
Paul Johnson, BBC Radio 4 Analysis
Andrew Grice, Independent
Gavin Kelly at CIPFA conference
8 July 2014
Gavin Kelly is interviewed at the Chartered Institute of Public Finance conference.
The Resolution Foundation is a think-tank that works to improve the lives of people on low to middle incomes.
3rd September 2014
The UK is entering a period in which interest rates are expected to start rising again – with the first moves potentially coming later this year – having insufficiently dealt with the debt overhang. This leaves the UK economy vulnerable to even modest increases in interest rates.
Deconstructing the debt overhang will not be costless, but it is in everyone’s interests – borrowers, lenders, government and taxpayers alike – to adopt a pro-active measured approach rather than simply allowing it to collapse. We favour an orderly and managed dismantling of the debt overhang. This report sets out a series of recommendations for lenders, borrowers and policy-makers to make that happen.