Household debt in the UK will hit £1trn in the next few weeks following the Bank of England's publication yesterday of its latest lending figures, says The Daily Telegraph.
The total debt in April stood at £985bn, but credit cards, mortgages, overdrafts and loans added £1.1bn in that month alone, and there is no sign of a decrease in consumption despite rising interest rates. Another increase in interest rates is being talked of as a certainty either this month or next, the paper writes. MANY OF Germany’s 120-odd life assurers face extinction because of the cost of redesigning products to meet new tax rules being introduced, the FT reports. At stake is a tax exemption on endowment policies, which the government has now scrapped and replaced with a rul...
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