UK Recession in numbersPosted: May 20, 2009
If you are a complete numbers and statistics geek like me, then you will find these numbers put together by Patrick Bryan extremely interesting, if not a tad frightening !
• £84m is the interest the Government has to pay each day on the UK’s net national debt of £743.6bn. This is projected to rise to £118m a day (£43bn) in financial year 2010 – 2011.
• Total UK personal debt at the end of March 2009 stood at £1,459 billion.
• Total consumer credit lending to individuals over the last 12 months ending March 2009 was £232 billion.
• Average household debt in the UK is £9,280 (excluding mortgages). This figure increases to £21,580 if the average is based on the number of households who have some form of unsecured loan.
• Average owed by every UK adult is £30,475 (including mortgages).
• During March 2009 Britain’s personal debt increased by £1 million every 50 minutes.
• 3,000 people made redundant every day and 1 in 33 people currently in work are expected to become unemployed in 2009.
• 1 property repossessed every 10 minutes.
• 1 person declared bankrupt every 4.5 minutes.
• 33,600 applications for credit have been turned down every day during the past six months.
• Citizens Advice Bureaux deal with 7,241 new debt problems every day.
• A recent poll conducted by the Resolution Foundation found that nearly 3 million people earning between £12,000 and £27,000 per year worry ‘all the time’ about their
• We work the first 83 days of any given year just to earn enough money to service the interest on our debts
• Total credit card debt in March 2009 was £53 billion.
• The UK collective credit limit on credit cards is £158bn, which is an average credit card limit of £5,129 per person.
• The average interest rate on credit card lending is currently 17.6%, which is at least 17.1% above current base rate.