It’s important to worry about the right things. Interest rates are up, sparking worries about our debts – in my case, the mortgage. Consumer debt (credit cards, overdrafts and personal loans) is surging, we’re told. But the truth is, consumer debt levels are down. New Resolution Foundation research shows them at their lowest since at least 1999, down from 23% of household disposable incomes in the mid-2000s to 13% today.

Since the start of the pandemic, there........

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