Liberal Democrats in Business

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

Mortgage Debt Still Rising Too Rapidly

5.16.42pm UTC (GMT +0000) Wed 21st Jan 2004

Commenting on the Building Societies Association figures this morning showing lending up 70% in 2003 Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "These figures show that housing credit is still growing at an extraordinarily rapid rate."

"Even the Financial Services Authority is expressing alarm at the rising level of debt."

"It is alarming that nobody in the Government is taking action to address the inflated housing market."

"It is time for the Government to take action to protect ordinary homeowners against irresponsible lending."

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[Previous news story]: New Lending Figures Are Cause For Concern (Wed 21st Jan 2004).
[Next news story]: Retail Sales Figures Fuelling Consumer Debt - Cable (Fri 23rd Jan 2004).

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[Stagnating Housing Market and Rising Consumer Debt Causing Nightmare Situation - Cable]

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