Debt charities have urged the Government to tackle the UK’s debt crisis after official figures revealed that household debt has soared to its highest level in eight years.
The BBC reports on Bank of England statistics which show that personal debt grew 10.8 per cent in the year to 30 November to £192.2 billion. Step Change wants ministers to implement a scheme that gives problem debtors 12 months’ breathing space to get back on track. FuelThere’s more gloomy news on fuel prices. BBC online reports that the cost of petrol and diesel has increased to its highest since July 2015.
According to analysis from the RAC, the average cost of unleaded petrol hit 117.23p at the end of the month, with diesel reaching 119.63p. The wholesale price of both fuels has risen significantly, following the production cuts announced by Opec. Wealth The Guardian reports on a study by the Institute for Fiscal Studies which has found that ‘today’s young people were likely to inherit more wealth than their predecessors but the benefits would be skewed to those who were already well off’.
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