Speaking following the publication of new borrowing figures put out by the Bank of England yesterday, Liberal Democrat trade spokesman Vincent Cable warned that the increased borrowing could lead to ‘negative equity repossessions and record levels of bankruptcy.’
He added that householders should prepare for ‘an almighty crash’.
Figures published by the Bank of England yesterday found personal debt had soared to a record £10bn in June, increasing 13% on last year, at the fastest pace since 1990.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory