Walking the tightrope – Savings and debt inequality in Great Britain
Many households earn too little to pay for basic necessities, and to save for an uncertain future. Over a third of households now owe more in debt that they have saved, and millions more face falling into trouble in the event of a financial shock they cannot avoid. In our new briefing note, Walking the Tightrope - Savings and Debt Inequality in Great Britain, we find that: 6.5 million households are in debt, or face the prospect of falling into debt within a month, should they lose their jobs. Over 40 per cent of non-retired households have too little saved to pay even a month’s worth of household bills. 5.5 million households owe more in debt than they have saved. Many families are also…
Dr Neil ThompsonJanuary 26, 2017