According to accountants PricewaterhouseCoopers. British households have some of the biggest debts in the world.

(The average household is £7,900 in the red. despite families tightening their belts to each repay about £355 in 2011, they will still owe about £7,500 by 2013.  The good news is, credit card borrowing fell by five per cent in 2011, leaving the average balance at about £1,000.  So, at least that shows people are becoming a bit smarter about how they borrow.)