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Sunday, July 14, 2013

A Society Of Debtors

Politicians love to paint a picture of steadily improving living standards, but it is a complete illusion as a recent newspaper article by Christian Guy, Director of the Centre for Social Justice has revealed. 'Yesterday's grim figures revealed that more than 800,000 households will soon spend more than half their income on debt repayments. We already know that 274 people are declared insolvent or bankrupt every day, 88 properties are repossessed and average household debt, including mortgages, is almost £55,000.' (Times, 12 July) Hardly 'steadily improving living standards' is it? RD

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