Since the publication in 2004 of Oxera’s study on over-indebtedness in the UK, consumer borrowing has continued to rise, passing the £1 trillion threshold, and the level of household debt continues to make the headlines. Yet the latest data does not suggest that current levels of indebtedness are unsustainable. What are the recent trends in indebtedness and what progress have the government and the banking community made in this area in the past year?
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