Time to put away the credit card

Published on by

Debt & Savings

The squeeze is on. National accounts data last month confirmed that household incomes have been falling for the last three quarters. Yesterday’s labour market statistics showed that wages continue to lose ground to inflation. And today new survey data from the Bank the England shows that credit availability is tightening. Today’s survey is the latest … Continued

READ MORE

Time for a re-rewind on debt?

Published on by

Debt & Savings

Just like Craig David, debt made something of a comeback in 2016. Having peaked at 160 per cent on the eve of the 2008 financial crisis, household debt as a share of income fell to 140 per cent by the end of 2015. Successive increases in the first three quarters of 2016 took the ratio … Continued

READ MORE

One Nation or two?

Published on by

Debt & Savings

Iain Duncan Smith says the government’s claim to be a One Nation government is at risk and that it is “in danger of drifting in a direction that divides society rather than unites it”. Government spokespeople, including the Climate Change Secretary, Amber Rudd, have been clear they think he is wrong – indeed the Prime … Continued

READ MORE

Help to Save: an idea whose time has come (again)

Published on by

Debt & Savings

‘Support for savers’ was meant to be one of the key Budget themes. Until recently it seemed likely that the Chancellor would be announcing a radical shake-up of pension saving. But in the face of fierce of opposition from industry, the media and many backbench MPs, the Treasury has now ruled out any changes to … Continued

READ MORE