Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0% balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy. (Frances O'Grady)

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0% balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.

Frances O'Grady

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