Household debts (excluding mortgages) are on the rise in the UK, according to the Office for National Statistics (ONS). Total household debt in Great Britain was £1.28 trillion in April 2016 to March 2018, of which £119 billion (9%), which suggests that average household debt rose to £9,400. £1.16 trillion (91%) was property debt (mortgages and…

Consumer spending in November grew by just 0.9 per cent year-on-year, representing a decline in real terms when accounting for inflation, as restrained expenditure continues ahead of Christmas according to new data from Barclaycard. The data showed that spending on essentials showed no movement whilst spending on non-essentials was up 1.3 per cent, presenting a…

Set against a backdrop of unprecedented change – British small businesses are remaining stoic and are facing the next three months with renewed focus and a determination to succeed. New research from Hitachi Capital Business Finance shows that for the sixth consecutive quarter confidence levels have varied only by 1%, with the number of businesses…

New research by American Express has suggested that seasonal spending will hit £75 billion this Christmas The research has predicted that consumers plan to spend on average £1,522 each this festive season. As a nation, this comes to more than £75 billion being spent on everything from presents to parties. The top three costs this…

Here is an overview of The Money Charity’s latest statistics for November 2019: Personal debt in the UK People in the UK owed £1,661 billion at the end of September 2019. This is up from £1,612 billion at the end of September 2018, an extra £930 per UK adult over the year. The average total…

Child poverty is set to continue rising under the Conservative Party’s social security plans, while Labour’s £9 billion of extra spending would mean 550,000 fewer children in poverty but not see current poverty rates fall, according to new research published today by the Resolution Foundation. The shifting shape of social security shows how the size and…

The latest figures from UK Finance show that the £11 billion of credit card spending in October 2019 was 2.3 percent lower than in September 2018, with repayments remaining in line with credit card spending, demonstrating that consumers are managing their finances effectively overall. Repayments remained in line with credit card spending, showing that consumers…

Over half (54%) of the UK’s SMEs, equating to 3.1 million businesses, admit they had not prepared in any way for Brexit ahead of the 31 October deadline according to the latest Q3 SME Confidence Tracker from Bibby Financial Services. Fewer SMEs are investing and the amount they are investing on average has also fallen.…

Over a third (36%) of Europe’s CFOs feel more pessimistic about their companies’ financial prospects than they did three months ago, according to Deloitte European CFO Survey. This percentage has doubled since the first survey in spring 2015, when the figure stood at 18%. Fewer than one in five CFOs (18%) consider now to be…

Britain’s record employment is the result of its post-crisis income squeeze and means we’re working an extra 65 million hours a week, according to a new report by the Resolution Foundation. The report, Feel poor, work more, argues that Britain’s record employment level is one of the biggest economic stories of the last decade, with the number…

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