Chart of the week: British shoppers get out the credit cards

Ultra-low interest rates mean that people are Britain are turning back to their credit cards, and shopping with money they don't have.

845_COTW-634

"Ultra-low interest rates in response to recession encourage more debt to be taken on," says David Smith in The Sunday Times. Britain's households worked off some of their borrowings after the global crisis, but now they have returned to shopping with money they don't have.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Explore More
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.