TUC report reveals household debt has 'hit new peak'

08 Jan 2019

A report published by the Trades Union Congress (TUC) has revealed that UK household debt has 'reached new highs'.

The report revealed that unsecured debt per household rose to £15,385 during the third quarter of 2018 – representing a rise of £886 when compared to a year earlier.

Meanwhile, total unsecured debt rose to £428 billion in the third quarter of last year, according to the report.

The TUC said that government austerity and 'years of wage stagnation' are the key factors behind the increase in unsecured household debt.

Commenting on the findings, Frances O'Grady, General Secretary of the TUC, said: 'Household debt is at crisis level. Years of austerity and wage stagnation has pushed millions of families deep into the red.

'Our economy is not working for workers. They need stronger rights and bargaining powers. Trade unions should be allowed the freedom to enter every workplace to negotiate higher wages.'

Home | Contact us | Accessibility | Disclaimer | GDPR (including Standard Terms of Business) | Help | Site map |

© 2019 BPU Accountants. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


BPU Chartered Accountants is the trading name of BPU Ltd Company number 3723948 registered in Wales. Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.

BPU Financial Solutions Ltd is an Appointed Representative of ValidPath Limited which is authorised and regulated by the Financial Conduct Authority. ValidPath Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference 197107.

BPU Accountants, Radnor House, Greenwood Close, Cardiff Gate Business Park, Cardiff CF23 8AA
BPU Accountants, The Counting House, Pound Field, Llantwit Major, Vale of Glamorgan CF61 1DL