borrowing

Since the start of the pandemic nearly one million people have used high cost credit products as a safety net to meet everyday living costs. 

The right to buy policy was cited as a severe disincentive to building, as new homes might have to be sold after only three years, possibly at less than the cost of building.

UK workers have been among the worst affected, with only Lithuania, Estonia, Greece and Latvia experiencing a greater reduction in real wage growth than Britain.

Subprime credit cards tend to be targeted at people with low incomes, who are unemployed, or who have an impaired or thin credit file.