Brits 'owe 49p in every pound'
Published On 23 January 2007
Britons are becoming more aware of the importance of saving but still borrow 49 pence in every pound, according to new figures from Unbiased.co.uk.The statistics revealed that although the UK saved nearly £32 billion between July and September 2006, few people are taking steps to avoid debt.
"Consumers are beginning to sit up and take notice of the increasing calls to save, however they are compromising these positive steps by continuing to borrow money to accommodate spending habits," said David Elms, the chief executive of Unbiased.co.uk.
"Until people take responsibility for their debt then the benefits of saving will be diminished."
He added that the latest figures were "disappointing" and demonstrate "that although people are recognising the need to save more they may not be budgeting to avoid taking on new debt".
