UK debt 'double Europe average'
Great effort! Keep the economy going!
People in the UK are borrowing on average almost twice that of citizens in other western European countries, a report has found.
Unsecured UK lending, such as credit cards, was £216bn (319bn euros) in 2005 - more than a third of all new non-mortgage borrowing in Europe.
The report, which looks at the market for borrowing via personal loans, hire purchase, credit cards and overdrafts in 16 European countries, said that the UK had an "insatiable appetite for credit".
Total UK personal debt, including mortgages, is about £1.2 trillion.
Unsecured UK lending, such as credit cards, was £216bn (319bn euros) in 2005 - more than a third of all new non-mortgage borrowing in Europe.
The report, which looks at the market for borrowing via personal loans, hire purchase, credit cards and overdrafts in 16 European countries, said that the UK had an "insatiable appetite for credit".
Total UK personal debt, including mortgages, is about £1.2 trillion.
