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31 Aug, 2011

UK debt: Britain plunges into danger zone after Labour’s 10-year borrowing binge | Mail Online

Britain’s debt levels are dangerously high and are damaging the economy, according to one of the world’s leading financial watchdogs.

Debt in the UK grew faster than in any other major economy in the last decade to £180,000 per household.

It means the country is in the danger zone following a ten-year borrowing binge under the last Labour government, a hard-hitting report from the Bank for International Settlements has revealed.

via UK debt: Britain plunges into danger zone after Labour’s 10-year borrowing binge | Mail Online.