Slow borrowing, says Central Bank, as debts hits €85bn

WE are spending beyond our means, the Central Bank warned last night as figures revealed the average adult is €30,000 in debt.

For the first time, the amount owed by individuals has surged past their after-tax incomes.

At the end of last September the total amount of household debt, which includes mortgages, credit card debt and other borrowings, stood at €85 billion, equivalent to just over €30,000 for every adult in the country.