Britain in the Red: a Provisional Report.

by Damon Gibbons and Lovedeep Vaid, of the Centre for Responsible Credit for the TUC and UNISON.

It is seven years since the onset of the global financial crisis and the ‘Great Recession’.

Although the credit boom prior to 2007/08 has been identified by the Bank of England as a contributory factor in causing the crisis, and the Bank has recently reported that the legacy of high household indebtedness has held back the recovery, very little has been done in that time to directly assist British households to either pay down or restructure their debts.