Britons now owe £1.3trillion debts

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