{"id":37725,"date":"2017-07-04T10:33:38","date_gmt":"2017-07-04T09:33:38","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=37725"},"modified":"2017-07-04T10:34:44","modified_gmt":"2017-07-04T09:34:44","slug":"the-bank-of-england-too-little-too-riskily-and-too-late-on-consumer-credit","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/07\/04\/the-bank-of-england-too-little-too-riskily-and-too-late-on-consumer-credit\/","title":{"rendered":"The Bank of England: too little, too riskily and too late on consumer credit?"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.theguardian.com\/business\/2017\/jul\/04\/bank-of-england-steps-up-scrutiny-of-lenders\" target=\"_blank\" rel=\"noopener noreferrer\">Guardian has reported<\/a>:<\/p>\n<blockquote><p>The Bank of England is stepping up its scrutiny of banks and other lenders on credit cards, personal loans and car purchases amid fears they are being lulled into a false sense of security by the current economic backdrop.<\/p><\/blockquote>\n<p>What is clear is that the Bank of England is trying to prevent a crash based on personal debt failures, and rightly so. But three questions follow.<\/p>\n<p>First, is this too late: the debt may already be out of control, \u00a0and has sky-rocketed in the last year?<\/p>\n<p>Second, are they aware that this will precipitate a crisis when already over-extended people denied new credit will default on existing obligations?<\/p>\n<p>Third, why aren't they calling for a national pay rise instead, which is what is so obviously needed?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Guardian has reported: The Bank of England is stepping up its scrutiny of banks and other lenders on credit cards, personal loans and car<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/07\/04\/the-bank-of-england-too-little-too-riskily-and-too-late-on-consumer-credit\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,35],"tags":[],"class_list":["post-37725","post","type-post","status-publish","format-standard","hentry","category-banking","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/37725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=37725"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/37725\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=37725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=37725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=37725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}