UK debt management burden grows
UK debt management burden grows
- Tuesday, 5 May 2009The UK's
national debt management burden continued to grow in March 2009, albeit at a slower rate than was previously the case, according to figures from Credit Action.
In its May UK Debt Statistics report, the organisation notes that consumer credit lending at the end of March totalled £232 billion, at a 12-month growth rate of 3.2 per cent.
Secured lending grew more slowly, at an annual rate of two per cent, to reach £1,227 billion at the same point.
In all, the
UK debt management burden stood at £1,459 billion at the start of April - up 2.2 per cent or £28 billion year-on-year.
The figures follow the publication in February of full-year findings for 2008.
Over the course of the year, the
national debt management burden rose by around £50 billion.
Meanwhile, interest accrued on outstanding balances added a further £81.8 billion to the amount repaid, or about £3,354 for every UK household.
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