Metro Newspaper, Thursday 23rd August 2007.
Britons now owe £1.3trillion debts
Consumer debt has exceeded the amount of money generated by Britain's economy for the first time.
Britons owe £1.34trillion in mortgage and unsecured debt, a figure higher than the country's expected gross domestic product of £1.3trillion for this year.
Just a decade ago, the country generated enough money by August to cover its consumer debt.
Read More : @ http://www.metro.co.uk/
http://www.metro.co.uk/money/article.html?in_article_id=63173&in_page_id=36
Comment:
If we owe this amount, how long until we pay it pay off, or will the debt mountain continue to grow ?
Blair
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