UK debt statistics

"Total UK personal debt at the end of October 2010 stood at £1,452bn. The twelve-month growth rate increased 0.1% to 0.8%. Individuals owe more than what the whole country produces in a year.

Total lending in October 2010 rose by £1.3bn; secured lending increased by £1.0bn in the month; consumer credit lending increased by £0.3bn (total lending in Jan 2008 grew by £8.4bn).

Total secured lending on dwellings at the end of October 2010 stood at £1,236bn. The twelve-month growth rate remained at 0.8%.

Total consumer credit lending to individuals at the end of October 2010 was £216bn. The annual growth rate of consumer credit increased 0.4% to 0.6%.

UK banks and building societies wrote off £9.9bn of loans to individuals in the last 12 months to end Q3 2010. In Q3 2010 they wrote off £1.83bn (£740m of that was credit card debt). This amounts to a write-off of £20.10m a day.

Average household debt in the UK is ~ £8,556 (excluding mortgages)."
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So what do the government do?

They lower interest rates to encourage more spending. Wonderful.