Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum

Retail Sales: Debt can last years, not just for Chritsmas

1.26.52pm GMT Thu 20th Nov 2003

Commenting on today's retails sales figures from the ONS, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said: "While retailers may see a Christmas bonanza, evidence suggests that many people will be paying for Christmas with loans or credit cards this year. The debt they are building up can mean years of repayment."

"Wih levels of unsustainable debt on the rise and record lending figures out today, it may not be long before those borrowing at the edge of there means will find themselves in repayment difficulties and the real Christmas bonanza will be for the bailiffs."

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