Tuesday, Dec 05, 2006

Consumer debt and a possible property crash biggest threats to the UK economy

Free Help Advice: Consumer debt and a possible property cr

The Liberal Democrats have warned that the consumer debt crisis and a possible crash in the housing markets are among the biggest threats to the British Economy. In a briefing ahead of tomorrows pre-budget report, Vince Cable, Liberal Democrats Treasury Spokesman, warned of the threats to the British economy. He said that the biggest threat to the economy is personal debt, which is getting to the levels of debt servicing in relation to peoples income that preceded the recession in the early 1990s. He added that interest rates may be lower, but still people have to repay their debts, which are usually associated with mortgages and 770,000 people missed at least one mortgage payment in the last 12 months.

Posted by matt @ 04:01 PM (444 views)
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