Hardworking families grudgingly admit that they might be hard pressed but wouldn't want to make a big song and dance about it. Government hoping to spread the burden by bringing more into the net under some All in it together measures
Rejoice! Free Propaganda!
11 minutes ago
2 comments:
where do they get the £848 billion from?
The figure has been stuck at about £1,200 billion for the last few years.
Jesus.
MW - the ONS say [[lease excuse my emphasis] in the intro of the report :-
"For the purposes of the
current story, property debt includes liabilities held against , a household’s main residence only . An earlier report concentrated on household financial debt, and comparisons between these two forms of debt have been made within the accompanying infographic."
The infographic** sets the burden of household financial debt at under £90 billion, giving about £940 billion in total. From which I am inclined to conclude that the debt burden represented by "second homes and buy to let portfolios" etc. must be of the order of £300 billion.
** available with lots of other jolly reports and stats here http://www.ons.gov.uk/ons/rel/was/wealth-in-great-britain-wave-2/the-burden-of-property-debt-in-great-britain/the-burden-of-property-debt-in-great-britain--2006-08---2008-10.html
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