Latest Issue

Britain’s debt problem

Is there an acute debt problem in Britain? Yes, according to the headlines. In the third quarter of 2006 (July to September), 27,644 people were declared bankrupt or entered into Individual Voluntary Arrangements (IVAs), the halfway house between solvency and bankruptcy. This was an increase of 55 per cent on the same period in 2005. Data from the Council of Mortgage Lenders shows that in the first half of 2006, 8,140 properties were repossessed by the lender because of non-payment of the loans on them, a rise of 76 per cent on the same period last…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect