Page last updated at 09:33 GMT, Wednesday, 2 September 2009 10:33 UK

UK personal debt levels fall

Advertisement

British consumers paid off more debt in July than the amount of new money they borrowed.

It is the first time that has happened since records began in 1993. The Bank of England reported that £635m more was repaid than was borrowed.

There has also been a sharp drop in lending to business.

The BBC's Economics Editor Stephanie Flanders reports.

SEE ALSO

Story Tools

BBC iD

Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific