UK households spend above their income for longest period since 1980s

Average families have been net borrowers since just after Brexit referendum, says ONS

British households have spent more than they received for an unprecedented nine consecutive quarters amid a longer squeeze on real incomes, according to official figures.

Households across the country have been net borrowers in every quarter between October 2016 - when living costs started to rise after the Brexit vote - and December 2018. The Office for National Statistics said the run of nine quarters was unprecedented on comparable records dating back to 1987.

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