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Household debt


Taking on debt is one way in which households can support current living standards, and households’ debt levels determine their exposure to economic fluctuations and the costs they face in terms of debt servicing. Our work looks at the levels of different categories of debt across Britain’s households, the riskiness of this position, and how these have changed over time.

Contacts

Jack Leslie

Jack Leslie

Research and Policy Analyst
E: jack.leslie@resolutionfoundation.org
Publications

An unhealthy interest? Debt distress and the consequences of raising rates

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Consumer borrowing has been surging over recent months, raising fears that we are storing up more debt-fuelled problems for tomorrow. This note digs into the numbers and focuses on who…
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The Bank has increased borrowing costs, but is personal debt bubbling over?

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Following a period of double digit growth in consumer credit over the last year or so, there have been some concerns about the reappearance of a debt bubble in the…
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Time to put away the credit card

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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…
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Time for a re-rewind on debt?

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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…
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Consumer borrowing is up. But will it last, and should we be concerned?

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Consumer borrowing is increasing at its fastest rate in 11 years. As the chart below shows, outstanding debts (excluding mortgages and student loans) rose by 10.8 per cent in November…
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Why defusing the debt bomb means dealing with distributions

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Following the near-collapse of the global financial system back in 2008, it appeared only a matter of time before the UK’s household debt time bomb went boom. In aggregate, households…
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To avoid squeezed households struggling, we must beware of premature interest rate rises

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Thursday’s interest rate announcement from the Monetary Policy Committee is unlikely to generate many headlines. “Bank does nothing for 65th straight month” is hardly a circulation-booster, even during silly season. But…
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The repossessions timebomb: how to help homeowners at risk of default

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Against the backdrop of the most prolonged recession in living memory, the relatively small increase in homes being repossessed has been a welcome surprise. Numbers did spike, but they never…
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