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UK household debt hits new peak

Household debt in the UK has hit a fresh high, totalling £428bn, according to an analysis by the TUC.
Excluding mortgages, average debt per household rose sharply in 2018 to a new peak of £15,385, up £886 in a year, the research says.
The TUC says government austerity and years of wage stagnation are to blame.
But the TUC's figures include student loans, while Bank of England figures, excluding student loans, give a debt total of half the TUC's estimate.
The Bank of England says growth in consumer credit has been gradually slowing since the end of 2016.
The TUC arrived at its figure for unsecured debt by adding up the total amount owed in bank overdrafts, personal loans, store cards, payday loans and outstanding credit card debts, as well as student loans.
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