Tuesday newspaper round-up: British household debt, gender pay gap, China policy

Britain is facing a debt time bomb with more than 1.5 million households barely able to cover the interest payments on their personal loans, according to the TUC. The problem has ballooned in the past three years as families have taken on £48 billion more non-mortgage debt while disposable incomes fell. – The Times

Women earn 18% less than men on average, according to new research that highlights the challenge facing Theresa May in closing Britain’s stubbornly wide gender pay gap. The Institute for Fiscal Studies (IFS) also found that the gap balloons after women have children, raising the prospect that mothers are missing out on pay rises and promotions. That is echoed by a separate report on Tuesday suggesting that male managers are 40% more likely than female managers to be promoted. – The Guardian

China is at mounting risk of a Japanese-style "liquidity trap" as monetary policy loses traction and the economy approaches credit exhaustion, forcing a shift towards Keynesian fiscal stimulus. Officials at the Chinese People’s Bank (PBOC) have begun to call for a fundamental change in strategy, warning that interest rate cuts have become an increasingly blunt tool. – The Telegraph

BHS's 88-year run on the High Street will come to an end this week when the final stores close their doors. The last 35 BHS shops are expected to close after the firm went into administration in April. - Daily Mail

Sadiq Khan's hopes of forcing developers to build up affordable homes on former Transport for London property have been put in doubt by requirements on getting value for money on land deals. Khan was elected on a pledge of making sure that half of new homes would be affordable, and the sale of TfL land has been a critical part of this plan, both funding his high-profile fee freeze, and freeing up land for construction. – City AM