Economic pressure encourages yet more borrowing

Consumers are still running up debt at a rapid level, according to the latest figures from the British Bankers' Association, as both mortgage lending and card borrowing continued to rise in March. Overall lending rose another 0.8% or £7bn in March to £893bn, but this is down slightly against spending in February, when borrowing increased £8.5bn and down again from the monthly average of £10.2bn last year. Key concern, says David Dooks, director of BBA statistics, is consumers' credit card borrowing rose by another £400m in March and saw its highest climb since May 2000. Moreo...