What does the #GE2015 result mean for people in debt?

The 2015 General Election has been unpredictable and left many people scratching their heads. From a hung parliament to a Conservative majority, what does the result mean for people in debt? We take a quick look the opinions and reactions so far on Twitter.

Personal debt is a big issue

In our last post about Britain’s personal debt we looked at the staggering amount personal debt in the UK and how it impacts people in different parts of the country.

Currently consumers owe around a whopping £1.5 trillion with someone of an average salary spending around 4.37% on interest alone.

Figures from The Money Charity May Statistics report that 1,163 people a day had become redundant between December 2014 and February this year. The average total debt per household including mortgages was £55,196 and the average debt per adult in the UK was £29,186 in March this year.

With statistics like these, this election campaign has not really addressed personal debt issues and how the next major party will help people in debt. Comments from attendees of the Institute of Money Advisers Conference highlight this:

#GE2015 and debt

Below we look at some of the reactions to the election results as they unfolded. Jonathan Eley, editor of FT Money tweeted:

Nick Pearson commented about the seat losses for the ministers responsible for personal debt polices. It begs the question of how will personal debt be addressed in the next government? 

Many people have commented about how students will leave University even more indebted, food bank usage will increase and about the uncertainty the next Government will have on national debt and public services. 

What’s next for Britons and debt?

What do you think this election will mean for people in debt? Will the debt burden increase or will the next government do something to help? Share your thoughts and opinions in the comments below.

Tell others:


To enable use of cookies, you must agree to our cookie policy

We use necessary cookies to make our site work. We also would like to use analytics cookies which help to make improvements by measuring how you use the site. These will be set only if you consent and click agree.

Necessary Cookies: These cookies enable core functionality, such as security, network management and accessibility. You may disable these by changing your browser settings, this will effect how this website works and how you can use it.

Analytics Cookies: We’d like to set Google Analytics cookies to help us improve our website site by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone. For more information on how these work please read our Cookie Policy.