Scots are biggest debtors in UK
(09 January 2006)

The most indebted group of people in the UK has been named – and it is the Scottish population who top this ignominious league table.

Scots hold credit and store card debts of, on average, a third higher than those possessed by people in other areas of Britain, with the average citizen north of the border owing £7,948 in unsecured borrowings.

This figure comes from Debt Free Direct, a debt advice company – and is a far cry from the UK average debt of £5,993.

The results, flagged up in a paper created by the Scottish National Party (SNP), also showed that 27 per cent of Scots have outstanding balances on their credit cards, which is four per cent higher than the average for the rest of the UK.

SNP justice spokesman Kenny MacAskill said that, while Scots must take responsibility as individuals, financial institutions must look at themselves and recognise the damage that some of their interest rates are doing.

He said: "There is clearly a debt crisis looming in Scotland as the cost of Christmas returns to many Scottish households with a vengeance as credit card bills arrive.

"Whilst individuals must take responsibility for their spending, they are entitled to protection from outrageous credit card charges. A fair return on lending is one thing, usury and exploitation is another."



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