Credit binge leaves UK in hot water

Everyone knows the UK has become a nation that binges on credit. It is also one that isn't paying ba...

Everyone knows the UK has become a nation that binges on credit. It is also one that isn't paying back its debts. Defaulting on loans has become a guilt-free exercise but at some point the UK will regret it. The principle that borrowed money has to be returned is central to a free-market economy. If it isn't taken seriously, people won't want to lend money anymore - and then the economy will be in real trouble. Indebtedness in the UK is growing. So are the numbers of people getting into trouble because they have borrowed too much. Overall, the British now owe a hefty £1.3 trillion Some o...