Suddenly Great Britain's loyalty to America is understandable
Like attracts like.
Britain's borrowing hits £1 trillion
Sandra Haurant and Agencies
Thursday July 29, 2004
British consumers borrowed at a rate of around £1m every four minutes in June, getting themselves £11.23bn deeper in debt and taking the total amount of borrowing to more than £1 trillion, the Bank of England said today.
The total covers a combination of mortgages, personal loans, overdrafts, hire purchase agreements and on credit and store cards.
British household debt is now equal to the total amount owed by Africa, Asia and Latin America to international banks and through loans from other countries.
Posted by Prometheus 6 on July 29, 2004 - 9:38am :: News
