Earlier this year, it was reported, household debt had reached a new peak, with UK homes now owing an average of £15,385 to credit card firms, banks and other lenders.
The TUC, said household debt rose sharply in 2018 as years of austerity and wage stagnation forced households to increase their borrowing.
Did YOU know?
In 2014, Peterborough was named, as one of the cities with HIGHEST levels of personal debt of anyone in the country.
What does Darren think?
These recent findings show the true cost of a lost decade of earnings under the Tories.
Workers should not have to pay for the Tories’ failed economic ideology by taking on unsustainable debt, and deserve a wage that covers the essentials.
Labour Party Manifesto 2019 pledged to tackle the problem of spiralling debt and end the crisis of low pay, raising the minimum wage to at least £10 an hour and making sure it applies to all workers over 16. It’s a shame they did not get the chance to enact it.