A House of Cards

18th January 2008
By Duncan Hadfield

Alongside the strong rise in wealth creation seen over the last decade, debt levels have risen to new heights, with total consumer credit now standing at £1.35 trillion of which £215bn is unsecured — a doubling in a decade. As interest rates rose over 2006/07 concerns about borrowing levels rose too; with the economic outlook now looking shakier than at any time since the recession of the early 1990s, personal debt levels have become of even greater concern. Bank of England …