Retail Sales Figures Worrying

12.00.00am BST (GMT +0100) Thu 16th Jun 2005

Commenting on the Retail Sales Figures for May, Liberal Democrat Shadow Chancellor, Vince Cable MP said:

"These figures compound the worry that already exists for retailers, their staff and also for the economy as a whole.

"Retailers continue to face challenging conditions that are a result of a deeper fear amongst consumers relating to fundamental imbalances within the economy. With high personal debt levels and the uncertain outlook for the housing market, consumers are being understandably cautious.

"Liberal Democrats have put forward a 10 point plan to tackle levels of personal debt which includes instructing the FSA to look at the imperfect and expensive mortgage payment protection market and also to instruct competition authorities to clamp down on hidden charges in credit and store cards."