Evidence suggests that there is a growing Crisis of Indebtedness in the UK, particularly among people on low incomes.

At the moment it would be slightly premature to claim that we face an overall Crisis of Indebtedness, but we have undoubtedly reached a situation in which many people are becoming extremely vulnerable to even a small adverse change in their personal financial circumstances - and this is a time when the Governor of the Bank of England has made it abundantly clear that the next change in interest rates will almost certainly be up rather than down.