Property News · January 17, 2016

Spend, spend, spend – it’s what the chancellor is praying for


Personal debt and the booming property market have become the main drivers of growth in Osborne’s economyGeorge Osborne has already put in place legislation to prevent future governments racking up more debt, but consumer borrowing? Well, that’s another matter. Consumers who spend all their wages and then a bit more on top are George Osborne’s best friend.Figures last week from the Finance & Leasing Association (FLA) documents a 17% surge in new consumer borrowing during the year to November 2015. The data covered credit cards, store cards, car loans and the dreaded second mortgage, which was so popular that the value of new loans jumped 31% during the year. Continue reading…

Source : theguardian.com
Read more…Spend, spend, spend – it’s what the chancellor is praying for

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