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Wednesday, 18 October 2017

Debt and the Young

An excellent survey by the BBC has revealed some extremely bleak information on debt.  The fourth chart is particularly interesting showing a very strong link between youth and indebtedness.  It echoes work done by other organisations

It might cause the current government to reconsider whether its policy of refusing younger people to claim certain kinds of benefit is in fact sensible.  Not least, crippling people with more debt at a young age than their predecessors could have all sorts of effects going forward, damaging their prospects as the cohort ages, and possibly affecting a major cultural change in attitudes.  It also goes some way to explaining why many people think that age is the new class

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