The Lib Dems have highlighted that Britons are becoming increasingly more and more in debt to the tune of a staggering £1 trillion. This means that we own more than the continents of Africa, Asia & Sth America combined.
Figures issued by the Lib Dems appeared to indicate that whilst we are repaying over £6bn a month, the debt mountain was set to crash through the £1 trillion at around the end of May.
Our view
With interest rates increasing again last week and further rises expected over the next 6 months this is a cocktail for disaster. Please consider carefully before borrowing any more.
Watch out for a real property slow down.