Workers' debt spiralling 'out of control'
Monday 10 September 2012
Printable
EmailTUC 2012: Workers are being forced to borrow more than £300 a month as they spiral into "punishing levels of debt," the Unite union said today.
Unite revealed that the average amount workers were borrowing to get through the month had soared from £127 to £327 since March.
A study of 22,000 adults showed that almost half were borrowing money every month while four out of five said they had cut back on spending because of money worries.
Speaking at the TUC congress in Brighton Unite general secretary Len McCluskey said: "These figures are yet another damning indictment on this government's failed anti-growth policies. Ever more people are being plunged into punishing levels of debt as they struggle to make ends meet.
"This is the harsh reality for increasing numbers of working people in Osborne and Cameron's heartless Britain, with the real pain still to come as this government seeks more and more cuts."
If you appreciated this article then please consider donating to the Morning Star's Fighting Fund to ensure we can keep developing your paper.
Editorial
It doesn't have to be like this
Official inflation figures understate the real extent of rising costs, but even the government's own CPI scheme lays bare the ongoing misery for working people and those dependent on benefits.
Features
A strategy for our victory
The Con-Dems have had it their way too long. We have to turn this country around
Education for all: let's make it a reality
How high-quality primary schooling could help solve global poverty