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Debt - Tax 'increasing debt levels in the UK' - 04/02/2008
Personal finances are being squeezed by increased taxes, tipping many families into debt.

This is the assertion of a new report from the right-wing thinktank the Centre for Policy Studies (CPS) - which claims that UK households pay £7,800 a year more in tax than when Labour took over in 1997.

Increased utility bills and mortgage repayments were also blamed for debt problems by the new report, entitled Why Do We Feel So Broke?
CPS says that rates of disposable income has decreased in the past decade from 71 per cent to 67 per cent.

Debts were, on the other hand, found to have increased from 66 per cent to 108 per cent of total household income.

"The government's increases in taxation and the recent availability of easy credit is a potentially toxic mixture," the CPS said.

Why Do We Feel So Broke? is available from the CPS website, cps.org.uk.
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