BUSINESS LIVE: Buy now and pay later and it will skyrocket. Government bonds reach £ 2.3 trillion.The pound approaches the euro’s first high in two years
As living costs continue to rise, more British people are buying now and paying for services later, new research reveals.
According to TSB data, the number of customer transactions on Klarna alone increased by 59% in the 12 months from December 1, 2020.
The cost of repayment of the UK’s swelling government bonds is expected to reach around £ 1,000 per person this year due to the surge in borrowing costs.
Dramatic borrowing has pushed the debt pile from just £ 354 billion at the turn of the century to an astonishing £ 2.3 trillion today.
The pound reached its highest level against the euro yesterday in almost two years, as data showed that the UK economy was holding up well.
IHS Markit’s Purchasing Managers’ Index showed that manufacturing activity grew again in December, despite Covid. Factory production increased as supply chain delays were eased and workers broke through the unprocessed pandemic.
Services like Klarna that buy now and pay later have skyrocketed in popularity in the UK
BUSINESS LIVE: BNPL purchases surged.Government bonds reach £ 2.3 trillion
https://www.dailymail.co.uk/money/markets/article-10370589/BUSINESS-LIVE-BNPL-purchases-soar-National-debt-hits-2-3trn.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 BUSINESS LIVE: BNPL purchases surged.Government bonds reach £ 2.3 trillion