Individual insolvencies soar 55%

mkpdavies · 03-11-2006, 03:11 PM

http://www.ft.com/cms/s/480221bc-6b2...0779e2340.html

Quote:

Individual insolvencies in England and Wales soared 55 per cent year-on-year in the third quarter, fuelling concerns about the growing pressure on debt-strapped UK consumers.

There were 27,644 individual insolvencies in the third quarter, the government’s Insolvency Service said on Friday

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I'm not suprised. Just surving the tax war Labour has launched is a struggle. Interest rates just going up a little bit will hammer the people. Then they have to compete for minimum wage jobs in an overcrowed job market. Huge costs of homes added to this + massive fuel/travel costs mean only rich state workers now have a chance.

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