Household debt put at £8,000
THE average British household is saddled with nearly £8,000 of unsecured debt, which suggests that three years of austerity have only made a small dent in borrowing levels, according to a survey by professional services firm PricewaterhouseCoopers (PwC).
PwC’s annual report on the UK consumer credit industry, Precious Plastic 2012, reveals that total household borrowing remained relatively static last year at £1.45 trillion.
Mark Hannam, Northern head of financial services at PwC, said: “UK consumers are among the most indebted in the world.”
However, levels of unsecured lending fell for the third successive year by more than £355 per UK household, according to PwC.