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Household debt in Great Britain

Andrew Hood

When is debt a ‘problem’?

Lots of attention on total size of unsecured household debt

  • Now more than £200 billion on the Bank of England’s measure

Might be important for financial stability...

... but poor guide to extent to which debt is a problem for households

  • More than 60% of unsecured debt held by households with above-average incomes
  • More than half of households with unsecured debt have enough financial assets to pay them off