Think tank Centre for Cities has today published findings of its latest research into household debt and problem debt in British cities.
It finds that people in large cities and towns in Northern England and Wales have the most household debt and will be hit hardest in the economic downturn predicted as a result of the Coronavirus pandemic.
The introduction reads: “The economy now faces its most difficult period in living memory and one in five jobs in large cities and towns could be lost or furloughed. This puts people with higher levels of household debt in particularly precarious situations. While consumer debt is not necessarily a cause for concern, the inability to pay it off – or problem debt – is.”