The number of Brits with persistent debt problems has jumped by almost a third as the cost-of-living crisis bites further.
Charlie Nunn, the boss of Lloyds Banks, said customers are “concerned” about the economy but said he believes many are talking “too negatively” about the financial outlook.
It comes after inflation surged to 9.1 per cent in May and is predicted to rise by as much as 11 per cent this year amid jumps in the cost of energy, food and raw materials.
- Bank of England raises base interest rate to 1.75%
- £330 pay boost for 30m Brits as National Insurance threshold rises to £12,570 from today
- We could raise interest rates faster, says Bank of England governor Bailey
- Retail sales fall as shoppers cut back on food
- Barclays speeds up pay rise to ease staff money worries