Coronavirus meltdown means UK debt is bigger than GDP for the first time in 57 YEARS at nearly £2trillion after the government borrowed a record £55billion in May By James Tapsfield, Political Editor For Mailonline Published: 07:41 BST, 19 June 2020 | Updated: 07:57 BST, 19 June 2020 UK debt is bigger than GDP for … Read more
After more than three months gathering dust and moths in a cupboard, the UK’s red carpet was unrolled yesterday. For the first time since lockdown began in March, Britain had a visitor, a proper one – a head of state no less. The arrival of President Emmanuel Macron of France might not have been quite … Read more
Taxpayers will pay the cost of Bounce Back loans: £24bn lent over Covid sparks bad debt fears By James Salmon for the Daily Mail Published: 23:55 BST, 9 June 2020 | Updated: 23:56 BST, 9 June 2020 The extraordinary take-up of Bounce Back loans will result in ‘absolutely massive bad debts’ for taxpayers, a think-tank … Read more
The coronavirus crisis will leave millions of households facing a £6.1billion collective personal debt tsunami, one of the UK’s most well-known debt charities warns today. The Government should hand out £5billion in grants to those hardest hit financially so they can repay their debts, bring in repayment plans for those behind on their council tax … Read more
Coronavirus lending schemes backed by Government and Bank of England could leave businesses with £36bn in debt they cannot repay By Daily Mail City & Finance Reporter Published: 21:52 BST, 7 June 2020 | Updated: 21:52 BST, 7 June 2020 Emergency coronavirus lending schemes backed by the Government and Bank of England could leave businesses … Read more
Darius Guppy was a friend of Boris Johnson at Eton and Oxford Darius Guppy was a friend of Boris Johnson at Eton and Oxford – and best man at the wedding of Princess Diana’s brother, Earl Spencer. He was jailed in the 90s for his part in a £1.8million insurance fraud and is now an … Read more
Unscrupulous advertisers are mimicking the names of legitimate debt charities, research has revealed, raising fears that vulnerable people looking for help are at risk of bad advice. Since the start of April, nine companies purporting to offer debt advice have been placed on the Financial Conduct Authority’s blacklist of unauthorised firms, according to exclusive analysis … Read more
Energy customers could be in debt by £94 per household by the end of this summer – leading to a £2.6billion debt nationwide, new research has revealed. The ‘surprise’ debt will be accrued by the number of households using more energy during lockdown, according to analysis by Energy Helpline. Households are thought to be using … Read more
Britain’s £221billion consumer debt pile shrank by nearly £7.5billion in April, the largest fall ever recorded by the Bank of England. As households cut their spending during the coronavirus lockdown, the amount households they borrowed slumped to £11.8billion, almost half of the figure for February. Although the amount households paid back also dropped, the spending … Read more
Britain’s national debt set to hit £2 trillion for first time as cost of Covid-19 pandemic soars By Hugo Duncan for the Daily Mail Published: 22:16 BST, 29 May 2020 | Updated: 22:16 BST, 29 May 2020 Britain’s national debt is set to hit £2 trillion for the first time as the cost of the … Read more