The borrowing is more likely than the rescue in the UK

PA

For the first time since records began, UK households of the borrowers rather than savers, according to official figures.

Households are net borrowers, which began in the last year for the first time since data collection by the Office for National Statistics (ONS) in the year 1987.

The figures also show that savings levels are at the lowest level since 1963.

The trend shows the impact of budget pressure on families and the low interest rates.All eyes will be on the bench

Households are net borrowers, on average, if the amount of debt you build up, exceeds the amount that you Deposit, in Bank accounts, for example.

This was the case for five consecutive quarters, the figures show, and for 2017 a total of.

Meanwhile, the savings rate to its lowest annual level since 1963.

The ONS said that the amount that households saved fell out of their disposable income to 4.9% in the last year. The statistics authority has already been described, the saving rate drops to a record low on quarterly basis. Now the annual rate of inflation is at a record low.

Before the year 2017 low 4.9%, the previous low of 5.2% in the year 1971.

The pressure on wages is a reason for this situation. Potential savers can also be delayed all deposits on savings accounts, in expectation of a rise in interest rates by the Bank of England later this year.