CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow ‘Too early’ to draw conclusions on Brexit and consumer credit
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
‘Too early’ to draw conclusions on Brexit and consumer credit PDF Print E-mail
Wednesday, 24 August 2016
The British Bankers’ Association has published its High Street Banking Statistics for July 2016, with consumer credit continuing to show annual growth of more than six percent and 168 million purchases on credit cards in the month after the EU referendum – higher than the previous month. 

Joanna Elson OBE, chief executive of the Money Advice Trust, the charity that runs National Debtline, said: “It is too early to say how borrowing will ultimately be affected by the EU referendum – but in the shorter term, it is clear that the UK’s consumer credit surge shows no sign of abating.

“Most people will be able to handle this extra borrowing, but we are concerned that a minority of households risk being left further exposed to financial difficulty, if the economy does suffer in the longer term.

“Amid new economic uncertainty, it is now more important than ever that we are prepared for what could be a significant increase in personal debt problems in the years ahead.”

Earlier this month the Bank of England’s Financial Policy Committee identified “the high level of UK household indebtedness” as one “channel through which the [EU] referendum could increase risks to financial stability”.
 
Enghouse Side Banner

CSA side

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

CSA

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197