Brits ‘more concerned’ with debt than other Europeans

British citizens are more worried about their levels of debt than any other country in Europe, excluding Spain, with many stating their borrowing is not relative to their income.

This is according to a new survey by fund manager Janus Capital, which indicated that 35 per cent of Britons feel their debts are too high compared to their salaries, the Independent reports.

The Europe-wide statistic for this is 30 per cent, while 45 per cent of Spanish people voiced their concerns in this regard.

Author of the report David Bowers noted that borrowing has grown into a vital component of affording the essentials of modern living.

And co-chief executive of Janus Capital International Ric van Weelden commented that debt management “does need urgent attention if we are to avoid storing problems for the future”.

This comes in the wake of a recent study by Confused.com, which revealed that many people in the UK appear to be ignoring their debts and not meeting repayments on their credit cards.

By Sarah Adie