Debt risk to the economy

Posted on 06 Sep 2021
Share Blog Post

 Carney: Growth remains sustainable

Mark Carney has insisted that Britain is not in the grip of a "debt-fuelled recovery", stressing the UK"s economic growth remains sustainable. The Bank of England Governor said private sector debt had come down substantially since the financial crisis, but warned that rising levels of household debt still posed an "indirect" threat to the economy. Household debt levels in the UK are expected to rise until the end of the decade, hitting 163% of GDP from current levels of 146%, according to the OBR. Meanwhile, separate figures show household debt has jumped by more than 40% in the past six months. Average family debt - excluding mortgage borrowing - stands at £13,520, up from £9,520 six months ago. The latest figure is the highest since the summer of 2013, when the average family owed £16,300, according to Aviva.

Source:   The Daily Telegraph (13/01/2016)

View more blog posts

NIC hammer blow
Posted on 23 Jun 2025
NIC hammer blow
read more
Youth mobility scheme
Posted on 21 May 2025
Youth mobility scheme
read more
Businesses unaware of MTD
Posted on 14 May 2025
Businesses unaware of MTD
read more
Two tier tax system introduced
Posted on 07 May 2025
Two tier tax system introduced
read more
Back To Top
01604 660661