Monday 4 February 2019 / 11:29 AM Household Debt / John McDonnell

John McDonnell comments on ONS figures on household debt

John McDonnell MP, Labour’s Shadow Chancellor, commenting on today’s ONS release, showing a rise in household debt to 133% of income, said:

“This should come as a wake-up call to a complacent and out-of-touch government, recklessly heading towards a catastrophic No Deal Brexit while households are having to go into the red to get by.

“The unequal nature of the economy under the Tories is highlighted by income growing significantly faster for the Top 20% than the Bottom 20%.

“Underemployment remains well above its pre-crisis level, while millions of others are overworked.

“It has never been clearer: we need a General Election and a Labour Government to put right the damage done by nine years of vicious Conservative austerity.”