Have we become more indebted?


Overly indebted households are widely thought to have contributed to the depth of the Great Recession of 2008. Indeed during the 2000s, household debt relative to income increased rapidly in the UK rising by nearly 70% in the decade up to 2007. Household debt fell after the recession but still remains much higher than in the 1990s. In our report on indebtedness in Britain, we also examine changes in the patterns of indebtedness by different types of household and show that debt increased most rapidly and became more concentrated among low income and younger households; this holds true both for secured and unsecured debt. Get the figures here: CSI 16 Have we become more indebted?