The government is against debt, but spending cuts and tax increases will mean squeezed households will have to take on more in the coming years

Pearce, Nick (2011) The government is against debt, but spending cuts and tax increases will mean squeezed households will have to take on more in the coming years [Online resource]

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The recent upward revision of household debt forecasts illustrates one of the downsides of George Osborne’s plan to reduce the deficit. Nick Pearce writes that with low income growth predicted for the coming years, squeezed households may have little choice but to take on more debt.