“…Britain has one of the highest levels of household debt across the major advanced economies and is considered a debt-driven economy (Crouch, 2009; Stockhammer, 2016; Thompson, 2013). Private debt traverses the three main processes of financialisation: (1) the many different forms of household debt, such as consumer debt, mortgage debt and student debt, make it widely diffused throughout British society (Montgomerie, 2006, 2016; Sparkes, 2019); (2) the increasing public adoption of household debt can be highly profitable in the shareholder value oriented financial institutions operating in the British financial sector (e.g. Hein, 2010), which (3) contributes to the development of an underlying debt-driven financial accumulation regime underpinning Britain’s macroeconomic growth model (e.g.…”