Debt outstrips production in UK
Updated on 23 August 2007
New figures show that for the first time, levels of debt have outstripped the amoung generated by the UK economy.
The figures, published this morning, give a dramatic demonstration of how far consumers have become reliant on borrowing.
The research shows the total amount of money owed through consumer debt - including mortgages, loans and credit card balances - is £1.345 trillion.
By contrast, the latest estimate for how much Britain will produce this year is 1.33 trillion.
