FCA boss raises alarm over growing debt burden of young people in UK as number of bancrupt 18- to 34-year-olds in the UK jumps by a thirdThe head of Britain’s financial regulator has warned that a growing number of young people are having to borrow to cover basic living costs.
Andrew Bailey,the chief executive of the Financial Conduct Authority, told the BBC that while it had not yet reached crisis levels, or it was worrying that debt among young people was growing. He talked about a shift in the generational sample of wealth and income.
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Source: guardian.co.uk