Liberal Democrats in Business

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

Increase in Bankruptcies Deeply Worrying

9.25.00am GMT Fri 4th Feb 2005

Commenting on Department for Trade and Industry figures showing an increase in individual insolvencies of 34.6% in the last year, Dr Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "This is further evidence that high levels of personal debt are leading many people into financial difficulty and in extreme cases bankruptcy.

"Despite the bland reassurances from the Government and the Bank of England that personal debt is not an issue it obviously is for many thousands of people."

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[Previous news story]: Cash Machine Charges Hit Those On Low Incomes The Hardest (Wed 2nd Feb 2005).
[Next news story]: Banks Must Try Harder (Fri 4th Feb 2005).

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