A whole new industry is growing out of what is now called the sub-prime lending market. They lend to about eight million people that high street lenders won't touch because they have missed payments or their income is too low. The big banks are angry about the small loan sharks-angry that they are missing out on profit. Last week Barclaycard announced it was offering a new card to people who had previously been turned down because of their debts or poverty. Courts issued 1.3 million warrants authorising bailiff action last year in England and Wales.
British workers work the longest hours in Europe.
They are the most indebted in Europe. They are the most likely to be working two jobs to make ends meets.