Liberal Democrats in Business
News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum
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Liberal Democrats in Business News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum |
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| Liberal Democrats in Business | <info@libdemsinbusiness.org.uk> |
American instability could soon spread to Britain - Cable4.18.00am BST (GMT +0100) Fri 10th Aug 2007 Commenting on the financial instability currently affecting world markets, Liberal Democrat Shadow Chancellor, Vince Cable MP said: "The current financial problems affecting America all seem very distant from Britain. "However, this kind of high risk lending is cheerfully promoted by leading high street banks. This is exactly the kind of debt that drives the unstable sub-prime market. "The Government and the lending industry are far too complacent about irresponsible lending and the growing bubble in the housing market. "The stresses and strains now being seen in the USA and in Germany may well be felt in Britain before long."
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